MAKING A MARKET is securities dealers showing both a bid and an offer for a particular maturity and type of security. This is not to be confused with a quote, which is a general indication of prices rather than a specific price at which a transaction may be executed.
ACCOUNTING ESTIMATE is an approximation of a financial statement element. Estimates are included in historical financial statements because some amounts are
uncertain pending outcome of future events and relevant data about events that have occurred cannot be accumulated on a timely, cost-effective basis.
EFFECTIVE TAX RATE is the net rate a taxpayer pays on income that includes all forms of taxes. It is calculated by dividing the total tax paid by taxable income.
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