18 Terms
Home > Industry/Domain > Accounting > Tax
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
Add a new termContributors in Tax
Tax
consequential losses
Accounting; Tax
consequential losses, are losses as consequence from a commercial transaction, expected or non expected.
construction loan
Accounting; Tax
A loan intended only to finance the construction of a property Usually must be converted to a term loan after construction is complete
contingent business interruption insurance
Accounting; Tax
An insurance policy that provides benefits if your earnings are reduced because of damages to another business on which yours is dependent
contingent financing clause
Accounting; Tax
A clause in a purchase and sale agreement the specifies that the buyer must be able to secure financing on reasonable terms or he can back out of the purchase
contingent payments
Accounting; Tax
Payments where the amount and/or timing is dependent on other events, usually the income from the property
contingent interest
Accounting; Tax
Income from a note that is at least partially based on the income from the property This is common in financing commercial real estate For example, Fred loans Madison $1 million at 8% The terms ...
contra account
Accounting; Tax
An asset account that normally has a credit balance The contra account is used to offset a related account The approach is used so that the regular asset account is shown at the original or ...
