NONREFUNDABLE BOND Definition

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NONREFUNDABLE BOND is a bond issue that cannot be redeemed for a stated period of time using the proceeds from a new, lower-cost issue to finance the refunding. The bond can still be called without a refunding, but the company must use internal capital or equity funds to retire the issue. This provides some protection to the bondholder if interest rates decline significantly.

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CASH IN TRANSIT is cash being transferred from one business to another or between two parts of the same business. If it is not recorded as an asset in either an adjusting entry may be necessary.

MIS see MANAGEMENT INFORMATION SYSTEM.

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