LRIC Definition

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LRIC is an acronym for Long Run Incremental Cost. A service costing methodology used primarily in the telecommunications industry.

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TIGHT MARKET is a market in which the spread, or dif­ference, between the bid and asked price of a security is extremely small. It is usually an indication that there is an abundant supply of the security and it is being actively traded. See THIN MARKET.

GASB stands for Government Accounting Standards Board. The GASB is a nonprofit organization responsible for establishing and improving accounting and financial reporting standards for governmental units.

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