NET PURCHASES Definition

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NET PURCHASES are those items purchased less returns, discounts and allowances on those purchases.

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HORIZONTAL COMBINATION is a business combination of companies with similar functions in the production or sale of comparable products.

COLLATERALIZED MORTGAGE OBLIGATION (CMO) or, since 1986, as a Real Estate Mortgage Investment Conduit (REMIC). CMOs and REMICs (terms which are often used interchangeably) are similar types of securities which allow cash flows to be directed so that different classes of securities with different maturities and coupons can be created. They may be collateralized by mortgage loans as well as securitized pools of loans.

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