REVENUE BONDS Definition

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REVENUE BONDS are a type of municipal bond where principal and interest are secured by revenues such as charges or rents paid by users of the facility built with the proceeds of the bond issue. Projects financed by revenue bonds include highways, airports, and not-for-profit health care and other facilities.

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UNRESOLVED EQUITY is the difference between Total Assets and Total Liabilities on the Balance Sheet. Total Assets is always equal to Total Liabilities plus Equity.

DISCOVERY SAMPLING is sampling to determine whether internal control compliance is greater than or less than the tolerable deviation rate when the expected attribute occurrence rate is zero.

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