TERM ENDOWMENT Definition

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TERM ENDOWMENT are endowments with time restrictions required by the donor such as a restriction that the income from the endowment may not be utilized until a future period or a specific date for condition is met.

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PROFIT & LOSS ACCOUNT shows the net profit which is left after all relevant business expenses have been deducted.

TIGHT MARKET is a market in which the spread, or dif­ference, between the bid and asked price of a security is extremely small. It is usually an indication that there is an abundant supply of the security and it is being actively traded. See THIN MARKET.

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