PERSONAL LOAN Definition

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PERSONAL LOAN is a short-term loan that is extended based on the personal integrity of the borrower.

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OPEN-BOOK CREDIT is a form of trade credit in which sellers ship merchandise on faith that payment will be forthcoming.

COMMON SIZED PERCENTAGES are financial statements in which each item is expressed as a percentage of a major financial statement component. In the Income Statement, each "Common Size %" is the field amount expressed as a percent of "Net Revenues." In the Balance Sheet, each "Common Size %" is the amount in the category as a percent of Total Assets. Common sized financial statements can be used to: a. identify key structural changes in a company's financial data over a period of time; b. more easily compare the financial data of firms that vary significantly in size; and, c. compare a company's financial data to industry norms.

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