GILT Definition

GILT is a bond issued by the UK government. Gilts are equivalent to a U.S. Treasury security.

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BROKER is an individual or firm that acts as an intermediary between a buyer and seller, usually charging a commission.

LIFO (last-in, first-out) is an inventory cost flow whereby the last goods purchased are assumed to be the first goods sold so that the ending inventory consists of the first goods purchased.

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