Glossary
Glossary of terms
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Bull Market
- An advancing stock market. The opposite of bear market.- www.ifebp.org
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Business Continuation Insurance
- When a partner dies or is disabled the remaining partners are provided with the funds to purchase that partner’s interest in the firm. See also Key Employee Insurance.- www.ifebp.org
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Business cycle
- Four basic stages of the U.S. economy as follows: Expansion--The economy strengthens as business activity accelerates. Peak--The economy overheats causing inflation and interest rates to rise. Recession--Higher interest rates lead to waning business activity and a contracting economy. Trough--Declining inflation and interest rates spark the beginnings of an economic rebound.- www.ifebp.org
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Business judgement rule
- A judicial doctrine offering protection to corporate officers and directors from personal liability for their actions as long as they were taken in good faith and with reasonable care.- www.ifebp.org
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