Equitable Rules Intended to Be Broad Statements of Rules That

question 53

Short Answer

Equitable rules intended to be broad statements of rules that are based on notions of fairness and justice are referred to as equitable _______ .

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Definitions:

Trading Portfolio

A collection of securities held by an institution or individual for the purpose of short-term trading to profit from price changes.

Unrealized Loss

An unrealized loss occurs when an asset's value decreases after it is purchased but before it is sold, reflecting a decrease in value that has not been realized through a transaction.

Fair Value

The estimated price at which an asset or liability could be exchanged between knowledgeable, willing parties in an arm's length transaction.

Income Statement

A financial statement that shows a company's revenues and expenses, culminating in a net profit or loss over a specific period.