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
amortization
Accounting; Tax
Process of writing off the cost of an intangible asset over its useful life.
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 )
loan commitment
Accounting; Tax
An agreement by a lender to make a loan in the future if all the conditions in the agreement are satisfied
annual meeting
Accounting; Tax
A meeting of the shareholders held each year to elect directors of the corporation, present the annual report, and conduct other business including items which requires shareholder approval (Note ...
accrued future service benefit
Accounting; Tax
The portion of a participant's pension retirement benefit that relates to the participant's period of service credited after the effective date of the plan but before a specified current date
loan-to-value ratio
Accounting; Tax
The percentage a lending institution will loan to the appraised value of a property For example, if the property is appraised for $100,000 and a bank will loan only $70,000, the loan-to-value ratio ...
annual percentage rate (apr)
Accounting; Tax
The effective interest rate required to be disclosed under the Truth in Lending Act
