Accounting & Investement Dictionary

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An alphabetical listing of General terms and items.

Z   Dico Tools
Fifth letter of a Nasdaq stock symbol indicating that listing is a fifth class of preferred stock, a stub, a certificate representing a limited partnership interest, foreign preferred when issued, or a second class of warrants.

Z Bond   Dico Tools
A bond on which interest accrues but is not currently paid to the investor but rather is added to the principal balance of the Z bond and becoming payable upon satisfaction of all prior bond classes.

Z Score   Dico Tools
Statistical measure that quantifies the distance (measured in standard deviations) a data point is from the mean of a data set. Separately, Z score is the output from a credit-strength test that gauges the likelihood of bankruptcy.

Zabara   Dico Tools
Applies mainly to international equities. Japanese securities transactions conducted on the principal of auction, i.e., (1) price priority in which the selling (buying) order with the lowest (highest) price takes precedence over other orders, and (2) time priority in that an earlier order takes precedence over other orders at the same price.

ZBA   Dico Tools
See: Zero balance account

Zero Interest Bonds   Dico Tools
Bonds issued with no promise of interest payments; only a lump sum payment will be made.

Zero Prepayment Assumption   Dico Tools
The assumption of payment of scheduled principal and interest with no payments.

Zero Uptick   Dico Tools
Related: Tick-test rules

Zero-balance Account   Dico Tools
A checking account in which zero balance is maintained by transfers of funds from a master account in an amount only large enough to cover checks presented.

Zero-base Budgeting   Dico Tools
Budgeting method that disregards the previous year's budget in setting a new budget, since circumstances may have changed. Each and every expense must be justified in this system.

Zero-beta Portfolio   Dico Tools
A portfolio constructed to have zero systematic risk, similar to the risk-free asset, that is, having a beta of zero.

Zero-bracket Amount   Dico Tools
The standard deduction portion of income which is not taxed for taxpayers choosing not to itemize deductions.

Zero-coupon Bond   Dico Tools
A bond in which no periodic coupon is paid over the life of the contract. Instead, both the principal and the interest are paid at the maturity date.

Zero-coupon Convertible Security   Dico Tools
A zero-coupon bond convertible into the common stock of the issuing company after the stock reaches a certain price, using a put option inherent in the security. Also refers to zero-coupon bonds, which are convertible into an interest bearing bond at a certain time before maturity.

Zero-investment Portfolio   Dico Tools
A portfolio of zero net value established by buying and shorting component securities, usually in the context of an arbitrage strategy.

Zero-minus Tick   Dico Tools
Sale that takes place at the same price as the previous sale, but at a lower price than the last different price. Antithesis of zero-plus tick.

Zero-one Integer Programming   Dico Tools
An analytical method that can be used to determine the solution to a capital rationing problem.

Zero-plus Tick   Dico Tools
Used for listed equity securities. Transaction at the same price as the preceding trade, but higher than the preceding trade at a different price. Antithesis of zero-minus tick. See: Short sale.

Zero-sum Game   Dico Tools
A type of game wherein one player can gain only at the expense of another player.

Zombies   Dico Tools
Companies that continue operation while they await merger or closure, even though they are insolvent and bankrupt.

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