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B

Balance
Amount of money in one's current account
Balance due
Dollar amount representing the sum of the previous balance due plus cash advances and merchandise purchases for the billing period, less credit for payments and/or merchandise returned, plus any appropriate finance charge
Balance of trade
That part of a nation's balance of payments dealing with imports and exports-that is, trade in goods and services-over a given period; if exports of goods exceed imports, the trade balance is said to be "favorable"; if imports exceed exports, the trade balance is said to be "unfavorable"
Balance owing
Amount outstanding
Balance sheet
Financial statement showing assets and liabilities at a specific time
Bank debits
Sum of all checks and other instruments charged against the deposited funds of a bank's customers
Bank identification
Series of digits used to identify a particular bank
Bank rate
Rate a central bank lends money to the domestic banking system
Bankruptcy
Official filing for protection against creditors due to the inability to pay all of one's debts as they come due
Basis point
In the bond market, the smallest measure used for quoting yields is a basis point (1 basis point is 0.01% of a bond's yield; basis points also are used for interest rates; an interest rate of 5% is 50 basis points greater than an interest rate of 4.5%)
Bear market
Any market in which prices are in a declining trend
Beneficiary
Person(s) designated by the policyholder to receive the proceeds of an insurance policy upon the death of the insured; can be a spouse, child, charity or any entity or person to whom the property owner would like to leave his/her possessions and assets
Binder
Written or oral acknowledgment that insurance is in force and evidence that an applicant has accepted the insurer's offer to purchase insurance coverage
Bodily injury (BI)
Physical injury, sickness, or disease sustained by a person, including resulting death
Bond
Certificate reflecting a firm's promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturing date; OR a third party obligation promising to pay if a vendor does not fulfill its valid obligations under a contract (types of bonds include license, performance, bid, indemnity & payment)
Break-even point
Point at which sales equal total costs
Broker
Intermediary in the market, who puts together buyers and sellers for a fee or commission
Brokerage fee
Money charged by a broker for executing a transaction
Brokerage house
Place from which a broker conducts business; often referred to as a broker, brokerage or a brokerage firm
Budget deficit
Amount each year by which government spending is greater than government income
Budget surplus
Amount each year by which government income exceeds government spending
Bull market
Market in which there is a continuous rise in stock prices