MONEY MARKET CERTIFICATE Definition

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MONEY MARKET CERTIFICATE is a security issued by com­mercial banks and savings and loan associations. Money market certificates pay a yield often based on the going Treasury bill rate. Interest rates on certificates normally remain fixed over their maturity and investors face an interest penalty for early withdrawal.

Learn new Accounting Terms

OBJECT CODE designates the type of expense or revenue to be charged to an account.

PLANT ASSET is a non-current physical asset applicable to manufacturing activities.

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