TOTAL LIABILITIES & NET WORTH Definition

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TOTAL LIABILITIES & NET WORTH is the sum of all liability items and Net Worth.

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COLLATERAL is assets used as security for the extension of a loan.

STRAPS is Stated Term Rate Auction Preferred Stock; issues having a fixed dividend rate, usually for three to five years. After this period, the security becomes an auction-rate preferred and the holder can sell the stock at par on the date of the first auction. STRAPs trade like and are com­pared to a short-term sinking fund preferred stock.

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