LOMA Glossary

The LOMA Glossary of Insurance and Financial Services Terms

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ZBB. See zero-based budgeting.

zero-based budgeting (ZBB). Budgeting that begins with the premise that no company resources will be allocated for the next accounting period unless and until each expense is shown to be in accord with the company’s strategic and operational goals.

zero-coupon bond. A bond that does not pay interest coupons during the term of the bond. Instead, the bond is sold at a discount to its face value. Then, the principal is paid in full at the bond’s maturity date.

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