L Definition

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L as the fifth letter of a Nasdaq stock symbol indicates that the issue is a class of stock such as: preferred when issued, third preferred class of warrants, sixth class of preferred stock, or foreign preferred.

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COMMERCIAL PAPER is short-term obligations with maturities ranging from 2 to 270 days issued by corporations, banks, or other borrowers to investors who have temporarily idle cash on hand. Commercial paper is usually unsecured and discounted.

AccSEC is Accounting Standards Executive Committee.

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