APFinancial Investment Marginal efficiency of capital The percentage yield earned on an additional unit of capital. Marginal revenue The change in total revenue as a result of producing one additional unit of output. Marginal tax rate The tax rate that would have to be paid on any additional dollars of taxable incomeearned. Marginal utility The change in total satisfaction as a result...

APFinancial Comprehensive Proposals Tax planning Devising strategies throughout the year in order to minimize tax liability, for example, by choosing a tax filing status that is most beneficial to the taxpayer.Tax preference item Items that must be included when calculating the alternative minimum tax. Tax preparation services Tax rate The percentage of tax paid for different levels of income...

APFinancial investment products Bond-equivalent basis The method used for computing the bond-equivalent yield. Bond equivalent yield Bond yield calculated on an annual percentage rate method. Differs from annual effective yield. Bond fund A mutual fund that emphasizes income—consistent with risk, rather than growth—by investing in corporate, municipal, or US government debtobligations, or...

APFinancial Net Unit Share Investment Trust (USIT) A unit investment trust comprising one unit of prime and one unit of score. Unit of trading See: Trading unit. Unit trust In the United Kingdom and other foreign markets, an open-end mutual fund. APFinancial a wide variety of investment Short interest theory The theory that a large interest in short positions in stocks will precede a...

APFinancial growth rate National Quotation Bureau A service that publishes bid and offerquotes from market makers in OTCtransactions. National Securities Clearing Corporation (NSCC) A clearing corporation that facilitates the settlement of accounts among brokerage firms, exchanges, and other clearing corporations. National Stock Exchange (NSE) Second-largest stock exchange based in India...

APFinancial Representatives Mailing Date A specific date set for the mailing of certain material to security holders such as interim reports, proxy material and dividendchecks. Maintenance Appropriate ongoing adjustments to security holder records. Maintenance call A call for additional money or securities when a margin account falls below its exchange-mandated required level. Maintenance...

APFinancial Net Bank wire A computer message system linking major banks. It is used not for effecting payments, but as a mechanism to advise the receiving bank of some action that has occurred, e.g., the payment by a customer of funds into that bank's account. Banker's acceptance A short-termcredit investment created by a nonfinancial firm and guaranteed by a bank as to payment. Acceptances...

APFinancial Investments Profile buyer/seller Trader trying to get involved in a stock who presents self as a buyer/seller to draw a call from a customer. That is the trader has nothing real, or natural. Profit Revenue minuscost. The amount one makes on a transaction. Profit center A division of an organization held responsible for producing its own profits. Profit forecast A prediction...

APFinancial Interests Universe of securities A group of stocks having a common feature, such as similar outstandingmarket capitalization or same product line. Unleveraged beta The beta of an unleveraged required return (i.e., no debt) on an investment when the investment is financed entirely by equity. Unleveraged program The use of borrowed funds to finance less than 50% of a purchase of...

APFinancial growth rate The Public Individual investors who trade single securities independently or invest in intermediaries such as mutual funds, as opposed to professional investors. Public Utility Holding Company Act of 1935 Legislation intended to eliminate many holding company abuses by reorganizing the financial structures of holding companies in the gas and electric utilityindustries...