4 Terms
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Tax
Of or relating to the fees charged by a government on a product, income, or activity; and also to the system by which they are successfully levied.
Industry: Accounting
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Tax
Gross leasable area
Accounting; Tax
The total square footage of a building It's generally measured from the outside walls
Accounting equation
Accounting; Tax
Simply stated, assets are equal to liabilities plus owners' equity
Level premium plan
Accounting; Tax
Premiums due on an insurance policy that remain level throughout the term, regardless of any dividends that may be paid
Acceleration clause
Accounting; Tax
A clause (often in mortgages or other loans) where some action will occur ahead of schedule as a result of some other action For example, an acceleration clause in a loan may mean that the full ...
Leasehold interest
Accounting; Tax
The right to the use of real property created by a lease If the rent payable on the lease is below the current market, the lease has a number of years to run and is for a very desirable property, ...
Joint-and-last-survivorship option
Accounting; Tax
When paying out the proceeds of an insurance policy, payments continue until the death of the last survivor of two persons
Administrative dissolution
Accounting; Tax
The dissolution of a corporation by the Secretary of State or similar state authority as a result of the corporation's failure to file corporate tax returns, file an annual report, maintain a ...
