What Is a FAFSA Award Letter? An award letter is the documentation sent from a college or university to the student that details how much financial support the student is eligible to receive. The award letter is sent following the student’s submission of the Free Application for Federal Student Aid (FAFSA) and application to attend college
What Does “Away From Home” Mean? “Away from home” is a phrase used by the Internal Revenue Service (IRS) to express that a taxpayer is not within commuting distance from home. If the taxpayer works away from home for longer than a normal workday and requires sleep, then the associated costs are tax deductible. If
What Is Ax? Ax is the moniker given to the market maker who is most central to the price action of a specific security across tradable exchanges. Key Takeaways Ax is the moniker given to the market maker who is most central to the price action of a specific security across tradable exchanges.The ax can
What Is the NYSE Amex Equities? The term NYSE Amex Equities refers to an American stock exchange best known for trading small-cap, micro-cap, corporate bonds, exchange traded funds (ETFs), and other kinds of investments. The exchange was called the American Stock Exchange (AMEX) before being acquired by NYSE Euronext. The exchange went through a series
What Is The Accounting Review? The Accounting Review is a peer-reviewed academic journal circulated by the American Accounting Association (AAA). First published in 1926, it is one of the oldest accounting journals and includes abstracts, articles, and book reviews that promote accounting education, research, and practice. Key Takeaways The Accounting Review is a peer-reviewed academic journal circulated by the American Accounting
What Is an ABA Transit Number? ABA transit numbers, also known as ABA routing or routing transfer numbers, are used to identify specific U.S. financial institutions and appear on standard checks. Basically, it is a nine-digit numeric address for each bank. Key Takeaways An ABA transit number is a set of numerals that identify a
What is Adequate Notice The term adequate notice refers to a written document that specifies in detail the terms and conditions of a loan or extension of credit to a consumer. Adequate notice requires the consumer to be informed of key details of the credit arrangement, such as the annual percentage rate, grace period, annual
What Is an After-Tax Basis? An after-tax basis is used to compare the net after-tax returns on taxable and tax-exempt bonds to gauge which has a higher yield. Key Takeaways After-tax bases compare the net after-tax returns on both taxable and tax-exempt bonds to gauge which has a higher yield.The after-tax basis calculation allows investors to
What Is B1/B+? B1/B+ is one of several non-investment grade credit ratings (also known as “junk”) that may be assigned to a company, fixed-income security, or floating-rate loan (FRN). This rating signifies that the issuer is relatively risky, with a higher than average chance of default. B1/B+ are ratings just below investment grade but are
What Is B3/B-? B3/B- refers to the letter grades ratings agencies assign to companies, issuers, and securities that are considered speculative and carry a greater degree of risk than investment grade bonds. In the world of junk bonds, a B3/B- rating is about as low of a rating as most investors will accept. Key Takeaways
