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LOAN: In general, a transaction in which a legal claim is exchanged for money. The legal claim is typically a contract or promissory note stipulating when and how the money will be repaid. The lender gives up the money and receives the legal claim. The borrower gives up the legal claim and receives the money. A loan can be either an asset or a liability, depending on who does the borrowing and who does the lending. To the borrower, a loan is a liability, something that is owed. The borrower must pay off the loan or repurchase the legal claim. However, to the lender, a loan is an asset, something that is owned. In fact, loans represent a significant part of a bank's assets.
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REAL GROSS DOMESTIC PRODUCT The total market value, measured in constant prices, of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. The key is that real gross domestic product is measured in constant prices, the prices for a specific base year. Real gross domestic product, also termed constant gross domestic product, adjusts gross domestic product for inflation. A contrasting measure is nominal gross domestic product, which does not adjust for inflation.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"When your values are clear to you, making decisions becomes easier. " -- Roy Disney, executive
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AAT
Association of Accounting Technicians
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