FUTURES Definition

FUTURES are contracts to buy or sell specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future.

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UNFUNDED COMMITMENT is, as of any date of determination, the sum of legally binding calls upon current or future assets to where the assets or sums have not been identified or set aside to satisfy the commitment.

STABLE DOLLAR ASSUMPTION is when using money as a measuring unit and preparing financial statements expressed in dollars, accountants make the assumption that the dollar is a stable unit of measurement.

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