FUTURES CONTRACT is an agreement to buy or sell a specific amount of a commodity or financial instrument at a specified price on a specified future date. Futures contracts are traded on a commodity exchange and used both for speculation and hedging.
DEFICIT is a debit balance in the Retained Earnings account resulting from accumulated losses.
UNREALIZED ACCOUNTS RECEIVABLE, in cash based accounting, is monies due but not received; can be used to offset taxes.
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