Defeasance refers to a provision that voids a bond or loan when the borrower sets aside cash or bonds sufficient enough to service the borrower’s debt.
Fungibility is the interchangeability of a good or asset with other individual goods/assets of the same type.
“Bo Derek” is a slang term used to describe a perfect stock or investment or “the perfect 10.”
A cumulative translation adjustment in the comprehensive income area of a translated balance sheet summarizes the gain/loss from varying exchange rates.
A trade surplus is an economic measure of a positive balance of trade, where a country’s exports exceed its imports.
A voting right is the right given to a stockholder to vote on matters of corporate policy.
Fiscal year-end refers to the last day of a one-year, or 12-month, accounting period.
A risk profile is an evaluation of an individual or organization’s willingness and ability to take risks.
An exchange rate mechanism (ERM) is based on the concept of fixed currency exchange rate margins, but there is variability among currency exchange rates.
Steve Ballmer was CEO of Microsoft Corporation from 2000 to 2014 and is the owner of the Los Angeles Clippers basketball team.