LIQUIDITY is a. a companys ability to meet current obligations with cash or other assets that can be quickly converted to cash; b. in securities, it is the ease with which an instrument can be bought or sold at or near prevailing market prices in the secondary market (often reflected by the range of the bid-asked spread).
PRIOR PERIOD refers to accounting periods that have occurred in the past. See also ACCOUNTING PERIOD.
PREPAYMENT is the payment of all or part of a debt prior to its due date.
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