Examlex
Which of the following would be deducted from the balance per books on a bank reconciliation?
Futures Contract
A standardized legal agreement to buy or sell a particular commodity or financial asset at a predetermined price at a specified time in the future.
Spot Price
The present market cost at which an asset can be purchased or sold for instant delivery.
Contract Maturity
The specified date on which the contract expires and the financial transaction must be settled or completed.
Basis
In finance, basis refers to the difference between the spot price of an asset and its future price, or it can signify the foundation or underlying principle for something.
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