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What is meant by mortgage? The mortgage is a promissory note secured by an asset, the title of which is pledged to the lender.

What do you mean by the market interest rates? The interest rates that the money market establishes through hundreds of individual transactions; and that depends on such factors as prevailing interest rates in the economy and the perceived risk of the individual company.

What is a Multi-step Income Statement? Multi-step Income Statement is a form of the income statement that has various categories and arrives at net income in steps.

What is the Maturity Value? Maturity value is the total proceeds of a promissory note; includes principal and interest due to the maturity date.

What is meant by the term Maturity date in Accounting? The maturity date is the date a promissory note is due.

What is Matching Convention? Matching Convention is the basic rule underlying accrual accounting. Revenues are recognized as earned. All expenses incurred in earning those revenues are reported also in the period in which those revenues are recognized.

What is Management Accounting? Management accounting is the system and procedures that provide information to management for planning and controlling the business.