Examlex
Explain how growing corn in the Midwest creates a 'dead zone' in the Gulf of Mexico.
Premium
The amount paid for an insurance policy, above the standard cost or for bonds, it's the amount by which the bond's selling price exceeds its face value.
Discount
A reduction from the usual cost of something, typically applied to incentivize purchase or payment within a certain timeframe.
Bonds Payable
A long-term liability account on a company's balance sheet representing the amount it owes to bondholders by the maturity date, typically including loans or other forms of debt obtained through issuing bonds.
Contra Account
An account used in financial reporting to reduce the value of a related account when the two are netted together.
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