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
Add a new termContributors in Tax
Tax
assumption
Accounting; Tax
An agreement where the purchaser agrees to make the payments on an existing mortgage on the property The original borrower remains liable unless he is specifically released
adjusted trial balance
Accounting; Tax
A list of all the ledger accounts with their adjustments and the adjusted balances
mortgagee
Accounting; Tax
A lender who loans money to a mortgagor The loan is usually secured by real estate or other property
at-risk plan
Accounting; Tax
Under the Pension Protection Act of 2006, a plan is considered to be at risk of default on its obligations if it fails to meet at least one of two tests Under the first test, a plan is deemed to be ...
adjusting entry
Accounting; Tax
An entry made at the end of the period to assign expenses to the period for which they were incurred and revenue to the period in which it was earned They are also used to correct entries that could ...
multiemployer plan
Accounting; Tax
A multiemployer plan is a collectively bargained plan maintained by more than one employer, usually within the same or related industries, and a labor union These plans also are sometimes referred ...
authorized 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 ...
