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Glossary of Terms

A budget is an estimate of future income and expenses. All companies prepare budgets that describe in purely financial terms their expectations for a coming period of time. Annual budgets looking ahead for the next year are always...
This is the length of time for which a lease has been agreed. Lease periods are usually encountered when you lease an apartment or a car. Apartment lease periods are usually for a year. Car leases...
This is the most extensive (and usually most expensive) type of coverage available under homeowners insurance, and it guarantees that in the event of a...
Probate is a legal term that means the process of proving the validity of the will of a person who has died. It is usually the first step in the settlement of an estate, to present a will to the court...
When a bond or a stock is first issued, its face value - the value shown on the stock or bond certificate - is known as the par value. For stocks the par value soon ceases to have any meaning, as its...