LONG TERM DEBT is all senior debt, including bonds, debentures, bank debt, mortgages, deferred portions of long term debt, and capital lease obligations. If a firm shows little to no long term debt over the years and/or their earning power could allow them to pay off their long term debt within 3-4 years, it is a good indicator of a sustainable competitive advantage.
SAMPLING ERROR is the fact that unless 100% of a population is examined, there is some chance the sample results will mislead the examiner. This risk is sampling error.
The larger the sample, the less chance of sampling error and the greater the
reliability of the results.
MARGINAL REVENUE is the change in total revenue as a result of producing one additional unit of output.
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