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Explain the court's holding in the New Jersey v. T.L.O. case.
Historical Cost Principle
An accounting principle that states all assets should be recorded and accounted for based on their original purchase cost.
Discount on Bonds Payable
An amount by which a bond is sold below its face value, reflecting the difference between the market rate of interest and the bond's coupon rate.
Market Volatile
A description of how significantly and frequently the price of assets, securities, or commodities can change in a market.
Bonds Mature
The point in time when a bond's principal amount is due to be paid back to bondholders, ending the bond's life.
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