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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.

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LIMITED LIABILITY

A condition in which owners of a business are not personally held responsible for the debts created by the business. Corporations are the most noted types of business organizations in which owners have limited liability. Limited liability makes it possible for a business to accumulate large sums of money and thus to take advantage of large scale production. The alternative to limited liability is unlimited liability, a characteristic of proprietorships and partnerships.

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Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for defective microphones.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
"Most human beings have an almost infinite capacity for taking things for granted. "

-- Aldous Huxley, writer

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