PUTABLE BOND is a bond that contains a provision that allows the holder, or investor, a put option to tender the bond prior to maturity, generally at par. Normally a holding period, often several years, must occur before the put option may be exercised. However, the holder has flexibility, in the event interest rates go up, to tender this bond long before its normal maturity.
PURCHASES BUDGET is a budget of the expected usage of materials in production and the purchase of the direct materials required. See OPERATING BUDGET.
AMORTIZATION EXPENSE is the allocation to expenses of the cost of an intangible asset such as goodwill, a patent, bond issue costs, etc.
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