SPONTANEOUS ASSETS Definition

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SPONTANEOUS ASSETS are assets that arise automatically, in the course of operating a company day-to-day, when a company purchases assets and they are delivered.

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SFAC is Statements of Financial Accounting Concepts.

ELIGIBLE is a security for which one or more Market Makers has received clearance to quote the issue on the OTCBB in the last 30 days. Securities receive eligible status if they are cleared following the filing of a Form 211 or a 15c2-11 Exemption Form. A frequency of quotation test is administered during the eligible period. Until the test is satisfied, any other Market Maker that wishes to quote the issue must also submit a completed Form 211.

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