T-account

Definition:

A simplified representation of the actual accounts used for record-keeping. Called T-account because it looks like the letter T with debits under the left arm and credits under the right arm.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Guaranteed Mortgage Certificates (GMC)

First issued by Freddie Mac in 1975, G.M.C.s, like PCs, represent undivided interest in specified conventional whole loans and participations previously purchased by Freddie Mac.

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