8 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
Liquidity risk
Accounting; Tax
The risk that a party will not be able to have enough cash to meet its obligations as they come due
In-the-money
Accounting; Tax
For options, if exercising the option will result in a gain, the option is in-the-money For a call option, it is in-the-money if the market price of the stock is greater than the exercise price A ...
Accrued interest
Accounting; Tax
Interest that has been earned, but not yet collected, or interest that is due, but not yet paid (See also accumulated interest )
Immediate notice
Accounting; Tax
In insurance parlance, a clause requiring the insured to provide notice to the insurer (or a representative) as soon as reasonably possible following a loss
Accrual accounting
Accounting; Tax
Under this method of accounting, income is recognised when earned, whether or not collected, and expenses are recognised when events have occurred that determine that a liability exists and the ...
Liquidated damages
Accounting; Tax
A specific sum of money, set as part of a contract, to be paid by one party to the other if the first should default on the contract
Implied warranty
Accounting; Tax
A warranty that is assumed or assumed to be part of a contract despite the fact that it is not expressly stated
