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Glossary

Q

QFCs
Qualified Financial Contracts
Qualifying special purpose entities
Under U.S. GAAP, a special purpose entity structured to avoid consolidation that must meet qualification criteria.
Qualitative dependent variables
Dummy variables used as dependent variables rather than as independent variables.
Quality control charts
A graphical means of presenting performance appraisal data; charts illustrating the performance of an actively managed account versus a selected benchmark.
Quality of earnings analysis
The investigation of issues relating to the accuracy of reported accounting results as reflections of economic performance; quality of earnings analysis is broadly understood to include not only earnings management, but also balance sheet management.
Quality option
With respect to Treasury futures, the option of which acceptable Treasury issue to deliver. Synonyms: swap option
Quantile
A value at or below which a stated fraction of the data lies. Synonyms: fractile
Quartiles
Quantiles that divide a distribution into four equal parts.
Quick assets
Assets that can be most readily converted to cash (e.g., cash, short-term marketable investments, receivables).
Quick ratio
A stringent measure of liquidity that indicates a company’s ability to satisfy current liabilities with its most liquid assets, calculated as (cash + short-term marketable investments + receivables) divided by current liabilities. Synonyms: acid test ratio
Quintiles
Quantiles that divide a distribution into five equal parts.
QTL
Qualified Thrift Lender
Quorum
The minimum acceptable level of participants with a vested interest in a company needed to make the proceedings of a meeting valid under the corporate charter. 
Quoted depth
The number of shares available for purchase or sale at the quoted bid and ask prices.
Quote-driven markets
Markets that rely on dealers to establish firm prices at which securities can be bought and sold. Synonyms: dealer markets
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