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INTERMEDIARY is the person or institution empowered to be the intermediary in making investment decisions for others. Examples: banks, savings and loan institutions, insurance companies, brokerage firms, mutual funds, and credit unions.

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HYPOTHESIS is a proposition about cause and effect relationships. A hypothesis involves anticipating an effect, and a means of observing whether the anticipation is correct. A company’s strategy is based on a hypothesis – “If we do A, then B will result.” For example, a strategy map for a Balanced Scorecard explains the hypothesis behind an organization’s strategy.

OPERATING ASSETS are long-term, or non-current, assets acquired for use in the business rather than for resale; includes property, plant, and equipment; intangible assets; and natural resources.

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