NORMAL BALANCE Definition

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NORMAL BALANCE, in accounting, is the side of an account, whether debit or credit, to which increases to the account are recorded.

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CASH DISCOUNT is a refund of some fraction of the amount paid because the purchase price is paid by the buyer in cash, as opposed to making the purchase on credit or, sometimes, credit card or check.

FIRM QUOTATION is the requirement that a Market Maker execute an order from another broker/dealer at its displayed price for the normal unit of trading, or for its displayed size, whichever is greater.

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