JUNK BOND is a bond with a speculative credit rating of BB or lower. Such bonds offer investors higher yields than bonds of financially sound companies. Two agencies, Standard & Poors and Moodys Investor Services, provide the rating systems for companies credit. See HIGH YIELD JUNK.
GENERAL CONTROLS, in accounting, are the policies and procedures to assure proper operation of computer systems, including controls over network operations, software acquisition and maintenance, and access security.
LIMITATION, in contracts, is a certain period limited by statute after which actions, suits, or prosecutions cannot be brought in the courts.
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