NEGOTIABLE CERTIFICATE OF DEPOSIT Definition

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NEGOTIABLE CERTIFICATE OF DEPOSIT is a security generally issued in increments of $1 million and, if created in good delivery form, salable in the national market through a securities dealer or a bank investment depart­ment prior to maturity.

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CONTROLLABLE COST see CONTROLLABLE EXPENSE.

EXTEND, in math, means to multiply one number by another (e.g. to test extensions is to test the accuracy of multiplication done by the client). To extend audit procedures is to apply additional audit procedures to obtain more evidence.

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