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General Obligation Bond

A municipal bond not secured by any assets; instead it is backed by the issuer's power to tax residents to pay bondholders.

Generally Accepted Accounting Principles (GAAP)

GAAP (Generally Accepted Accounting Principles) are accounting standards, conventions and rules. It is what companies use to measure their financial results. These results include net income as well as how companies record assets and liabilities. In the US, the SEC has the authority to establish GAAP. However, the SEC has historically allowed the private sector to establish the guidance. See The Financial Accounting Standards Board.

Going Private

A publicly held company generally means a company that has a class of securities that is registered with the SEC because those securities are widely held or traded on a national securities exchange. When a public company is eligible to deregister a class of its equity securities, either because those securities are no longer widely held or because they are delisted from an exchange, this is known as “going private.”

Good-Til-Cancelled Order

A Good-Til-Cancelled (GTC) order is an order to buy or sell a stock that lasts until the order is completed or canceled. Brokerage firms typically limit the length of time an investor can leave a GTC order open.  This time frame may vary from broker to broker.  Investors should contact their brokerage firms to determine what time limit would apply to GTC orders. 

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