VALIDATE Definition

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VALIDATE is to a. declare or make legally valid; b. mark with an indication of official sanction; or, c. to establish the soundness of; corroborate.

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BAD DEBT EXPENSE see UNCOLLECTIBLE ACCOUNT EXPENSE.

MONEY MARKET CERTIFICATE is a security issued by com­mercial banks and savings and loan associations. Money market certificates pay a yield often based on the going Treasury bill rate. Interest rates on certificates normally remain fixed over their maturity and investors face an interest penalty for early withdrawal.

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