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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.
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NO-RESERVE BANKING A (hypothetical) method of banking in which banks keep 0 percent of their deposits in the form of bank reserves, meaning that ALL deposits are used for interest-paying loans. No-reserve banking is one of two theoretical alternatives designed to help illustrate a contrast to the fractional-reserve banking actually practiced by modern banks. The other alternative is full-reserve banking. With the no-reserve approach a bank operates as financial intermediary or broker, matching up borrowers and lenders.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either several magazines on time travel or 500 feet of telephone cable. Be on the lookout for gnomes hiding in cypress trees.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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IRBNE
Income Received But Not Earned
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