Place of employment tied to a union and its rules. Such rules are collective bargaining, agreement to hire only the members of a particular union. This is an illegal practice.

Available goods in complete sets only and not sold as individual pieces. There is no guarantee that the stock will be replenished when inventory is depleted. This is in contrast to open

An isolated system with no interaction or interface with any external environment. Recognizing a closed systems externally comes only from its outputs that are not dependent on the system being closed or

Condition enacted when a mutual fund has much more money to invest than the availability of allowable investments.

1. Financial transaction finalized during an accounting period. 2. Any transaction finalized for all of its tasks.

A labor union strictly limited to a specific craft, occupation, or industry. Limits its membership, also.

Year of termination for a limit or law. An example in taxation is a filing period that ends after a certain number of years. A taxpayer cannot file for a refund and

A type of regulated investment firm with a limited number of shares available, as listed on a specific exchange, making the stock a closed-end fund.

Consumer lease having no option nor requirement for the lessee to buy the leased item at the end of the lease period. Known also as walk away lease. An example is as

Type of consumer installment loan where the borrower cannot alter the (1). number and amount of installments, (2). maturity date, and/or (3). credit terms. Known also as closed end credit. This is

A transaction with extended credit for a specific amount over a specific period available only once . The money credited must be fully repaid within that period. An example is a car

A method for investments and securities used by a business or corporation owned by specific set of people.

(1). A firm whose shares are owned by a small group of investors or family. (2). A firm with a number of its shares owned by non-employees or the public that is

Shares owned by a specific few individuals, a family, or a specific small group.

Selling off of discontinued, obsolete, or slow-moving stock, typically through a clearance sale.

The process of establishing an equal and opposite DERIVATIVE position in order to neutralize or offset the RISK of an existing position. Although the closeout cancels the effects of risk, it grosses

Firm that buys up all or most of another firm’s closeout stock and sells it to other vendors or the public.

A contractual agreement where an institution and a COUNTERPARTY in DEFAULT agree to ACCELERATION, termination, and NETTING of all financial transactions. See also PAYMENT NETTING, SETOFF.

New Zealand – Australia Free trade agreement as of January 1, 1983.

1. In Accounting, this is the moving of account balances at the end of an accounting period from subsidiary ledgers, containing nominal or temporary accounts, to an income summary account. Known also