3 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
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
allowance method
Accounting; Tax
A method of recording collection losses based on estimates before the actual determination that the business will be unable to collect such losses For example, at the end of the year a company will ...
accrue
Accounting; Tax
To record an item in the accounting books when using the accrual method of accounting For example, you accrue income when the customer signs a contract, even though you won't receive any cash at ...
liquidity premium
Accounting; Tax
The part of an interest rate or other return that is intended to cover the fact that the investment is illiquid
american-style option
Accounting; Tax
An option exercisable at any time between the purchase and expiration date
accrued expense
Accounting; Tax
An expense that has been incurred, but not yet paid in cash Similar to accounts payable, but usually associated with nontrade vendors For example, an electric bill
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
