IMMUNIZED PORTFOLIO is a portfolio structured such that the duration equals the duration of the investor's liabilities. The assets in the portfolio are structured to match the volatility of the investor's liabilities, thereby significantly reducing exposure to interest rate risk.
ERROR OF PRINCIPLE, in accounting, occurs when one or both of the entries are made in the wrong class or category of account.
CONTROLLER is usually an experienced accountant who directs internal accounting processes and procedures, including cost accounting.
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