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At Par: Understanding Bond Valuation

Over time, the bond’s price will change, due to changes in interest rates, credit ratings, and time to maturity. When this happens, a bond’s price will either be above its par value (above par) or below its par value (below par). Punctuation and syntax are...

Flexible budget definition

This allows for an infinite series of changes in budgeted expenses that are directly tied to actual revenue incurred. However, this approach ignores changes to other costs that do not change in accordance with small revenue variations. Consequently, a more...