Balance of Payments
A record of all economic transactions between one country and the rest of the world within a given time period usually one year. Generally divided into three accounts; current, capital and gold

Balance of Trade
The net difference over a period of time between the value of a coutry's exports and imports

Balance Sheet
A financial report that shows a company's financial position (assets, liabilities and equity) on a given date

Balanced Budget
The equalization of revenuesa and expenditures over a period of time

Banker's Acceptance
An agreement by a bank to pay the bills for one of its customers when the bills are presented

Bankruptcy
An inability of individuals or businesses to pay debts (liabilities exceed assets), legally declared by law.

Barter
System of exchanging goods or services without using money

Basis Point
One one-hundreth of a percent of a percent of yield (.01%). A unit of measure used in quoting yields on bills, notes and bonds

Below par
At a discount; less than face value

Beta Coefficient
Relates the volatility of a stock or portfolio to the market as a whole

Board of Directors
A group of individuals elected by the shareholders of a corporation as their representatives to oversee the management of the company

Bond
An interest bearing or discounted security that obligates the issuer to pay the holder a specified amount of money. Can also be money or securities deposited as a pledge of good faith