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How do you make a square picture into the shape an oval?
Discounted Note
A promissory note whose face value has been reduced to reflect the effect of interest that it will earn.
GAAP
Generally Accepted Accounting Principles, which are a set of accounting standards and practices used to prepare financial statements.
Financial Instruments
Contracts that give rise to both a financial asset of one entity and a financial liability or equity instrument of another entity.
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