10 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
administrator
Accounting; Tax
A person appointed by a court to settle the estate of a person who has died without a will (intestate) The term is administratrix if the person is a female An administrator serves the same function ...
balloon payment
Accounting; Tax
The final installment on a loan which is greater than the prior payments and pays any remaining amount outstanding under the loan For example, a loan calls for equal monthly payments of $500, where ...
banker's acceptance
Accounting; Tax
A time draft (note) drawn on and accepted by a bank This instrument is usually used for financing import-export transactions and generally financing international trade Payment of the note is ...
banker's rule
Accounting; Tax
The use of a 360-day year (instead of 365) for prorations (The use stems from pre-computer days when it was used to simplify computation )
base
Accounting; Tax
Also known as a Stop In real estate leases tenants are often responsible for operating expenses of the building over a certain dollar amount, the base or stop The base may be expressed in dollars ...
basis
Accounting; Tax
Used in determining depreciation or gain or loss on the sale of property In the simplest situation, your basis in property you purchase is the cost For example, you pay $1,000 for a machine--that's ...
basis point
Accounting; Tax
A way of quoting the yield on a bond, note, or other debt instrument One basis point is equal to 0 01% Thus, a 50 basis point yield increase in a bond would be equal to 0 5%
