5 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
Alienation
Accounting; Tax
When used in connexion with real property, the voluntary transferance of ownership or title from one person to another Alienation can be Involuntary if the property is transferred without the ...
Authorised shares
Accounting; Tax
The maximum number of shares of stock a corporation may issue according to its articles of incorporation If additional shares are to be issued either to be sold or because of a stock split or ...
Average cost method
Accounting; Tax
Inventory costing method based on the average cost of inventory during the period Average cost is determined by dividing the cost of goods in inventory by the number of units of the same type in ...
Bad debt expense
Accounting; Tax
Generally, the cost of uncollectible accounts receivable which occurs when customers to whom a business has extended credit fail to pay It can also refer to any debt owed you which is uncollectible
Balance sheet
Accounting; Tax
Listing of the assets, liabilities and owner's equity at a specific point in time
Balloon payment
Accounting; Tax
The final instalment on a loan which is greater than the prior payments and pays any remaining amount outstanding under the loan For example, a loan calls for equal monthly payments of $500, where ...
Banker's acceptance
Accounting; Tax
A time draught (note) drawn on and accepted by a bank This instrument is usually used for financing import-export transactions and generally financing international trade Payment of the note is ...
