PURCHASES LEDGER Definition

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PURCHASES LEDGER see LEDGER.

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ACCRUAL BOND is a bond on which interest accrues, but is not paid out to the investor during the time of accrual; instead, the accrual interest is added to the amount of remaining principal and paid at maturity. Also known as an accretion bond or a Z-bond in a CMO issue. See Collateralized Mortgage Obligation.

LRIC is an acronym for Long Run Incremental Cost. A service costing methodology used primarily in the telecommunications industry.

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