TIME VALUE OF MONEY Definition

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TIME VALUE OF MONEY is the idea that a dollar today is worth more than a dollar in the future, because the dollar received today can earn interest up until the time the future dollar is received.

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LEAD-TIME is the time between the initial stage of a project or policy and the appearance of results, for example, the long lead-time in oil production because of the need for new field exploration and drilling.

CLOSELY HELD is a description of a corporation whose voting stock is owned by a very small number of shareholders.

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