credit union: association of people with something in
common that offers insured savings plans similar to those
offered by other savings institutions.
creditor: one who lends money to another.
crowding-out effect: theory
that
government
borrowing reduces the supply of credit for private use, pushes
up interest rates, and reduces business and consumer spending.
cumulative preferred: preferred stock that is due
dividends, even if payments are delayed until the company can
afford them. The amount owed builds until the dividends are
paid. Owners are entitled to their payments before common-
stock owners can collect theirs.
currency: paper money and coins issued by the federal
government.
currency exchange: buying or selling foreign currencies.
current assets: cash and assets that are expected to be
used, sold or converted to cash in the near future, usually one
year. A sporting goods store's current assets would include
the money in the register and its bicycles, as well as short-
term insurance policies and marketable securities - securities
expected to be turned into cash in one year.
