UNDERWRITERS SPREAD Definition

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UNDERWRITERS SPREAD see UNDERWRITERS DISCOUNT.

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OPEN REPURCHASE AGREEMENT is a repurchase agreement with no set maturity date and often a rate of return that fluctuates on a daily basis, depending on market rates. The yield on this type of investment is higher than on a daily repurchase agreement because the agreement often runs several days and the dealer usually requires some short notice before the investor can withdraw funds.

ERROR OF PRINCIPLE, in accounting, occurs when one or both of the entries are made in the wrong class or category of account.

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