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Explain what each ratio in the Altman credit model measures and explain why higher values of each of the variables predict lower default probability.
Consolidated Income Statement
A consolidated income statement presents the financial performance of a parent company and its subsidiaries as one combined entity.
Forward Exchange Contract
A financial agreement between parties to exchange currencies at a predetermined future date and rate.
Annual Interest Rate
The percentage of interest that will be earned or paid on investments or loans over a one-year period.
Foreign Currency Option
A financial contract which grants the owner the option, without being obliged, to convert funds in one currency to another at a set exchange rate on a determined date.
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