LIMIT TEST Definition

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LIMIT TEST is a computer program step that compares data with predetermined limits as a reasonableness test, e.g. number of hours worked over 40 per week.

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TRADING SECURITIES is investment in securities with the intention of selling them in the short term for a profit. These are reported at market value. Unrealized gains or losses on these investments appear in the Net Income for the period.

STRIPPED BOND is a bond that can be subdivided into a series of zero-coupon bonds.

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