Terms begin with Letter ‘ L ’

An audit that is limited to a particular time span (usually less than a year) or accounts or operation is known as limited audit. Scope of limited audit is less wide compared to full audit.Read More

LIBOR stands for London InterBank Offered Rate (aka ICE LIBOR) is the benchmark interest rate for interbank short-term unsecured loans. LIBOR is calculated based on submission of interest rates by panel banks (ICE LIBOR CurrencyRead More

A line of credit, also known as LOC is generally an unsecured loan. A LOC gives a borrower the right to borrow and draw funds at any time to meet immediate needs. A significant conditionRead More