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Explain the accounting procedures when a bond's interest period does not coincide with the issuer's accounting period.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another when entrusted with a particular responsibility.
Gratuitous Agent
A person who acts on behalf of another without expecting or receiving payment, typically in a legal or business context.
Gratuitous Agent
An agent who acts on behalf of another without receiving any form of compensation or benefit for their services.
Duty of Loyalty
A legal obligation of fiduciaries to act in the best interest of the party they owe the duty to, avoiding conflicts of interest and self-dealing.
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