LONDON INTERBANK OFFERED RATE Definition

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LONDON INTERBANK OFFERED RATE (LIBOR) is the rate that the most creditworthy international banks that deal in Eurodollars charge each other for large loans. It is equivalent to the federal funds rate in the U.S.

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UNAUDITED OPINION is a qualified opinion by a Certified Public Accountant who has not audited the relevant financial statements.

PAYABLE is an amount awaiting payment to be made, e.g. interest payable or taxes payable.

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