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ABATABLE NUISANCE : Not a permanent nuisance but one that can be corrected easily as not to harm anyone.

ABSOLUTE ERROR : An error expressed without any indication as to whether or not its positive or negative.

ABNEGATE : Giving something up or to renounce.

ABSOLUTE AUCTION : An auction that has no reserve and where the highest bidder receives the item being sold.

ABILITY TO PAY TAX : Refer to the definition of pay principle for clarification.

ABSORB : 1. Considering the cost of business as an expense which prevents the raise of price. 2. The transference of funds from other accounts. The original identity of the accounts is lost in the process

ABUSE : 1. A misuse of anything. 2. Cruelty that causes harm to another.

ABSTRACT OF TITLE : A document that lists all items in an estate to establish the present state of title. These items listed may change the value of the title. Also referred to as an abstract and epitome of title

ABUSIVE DRAW : Prematurely cashing a bond without the knowledge of the owner. While not illegal it is frowned upon.

ANTE-FACTUM : Latin term meaning before the fact. This applies to an act that has been done before or a previous act.

ABSORBED ACCOUNT : The simplification of accounting when multiple accounts with the same purpose are combined. Upon absorption the original account information no longer leaves a paper trail only showing the transfer of funds.

ACADEMY OF ACCOUNTIN : A volunteer run organization that studies accounting. Traditionally an accounting historian would be interested in this.

ACCELERATED OPTION : A clause in life insurance policy that allows a lump sum payment.

ACCEPTABLE QUALITY L : The allowable number of defects permitted.

ACCEPTABLE RISK : A level of material and human loss involved in the industrial process.

ABILITY TO PERFORM : Ability to perform ensures that both parties in a transaction have the financial capacity to complete a transaction. Companies and individuals with higher credit ratings have a higher ability to perform.

ACCELERATED DEPOSIT : If a business totals $100,000 in federal tax in one day it must be in the bank the next day. Once this occurs the business must maintain a semi-weekly deposit for the next two years.

ACCELERATED BENEFITS : A clause in life insurance policies that allows them to receive their funds before death. This is only done in extreme cases of serious injury. It is called living benefits.

ACCELERATED DEPRECIA : This method of depreciaition helps companies to recover costs faster than through traditional straight line depreciation. Advantages of accelerated depcreiation including quicker recovery of cost and lower taxes.

ACCEPTANCE CREDIT : When a bank sets up a credit facility for a creditworthy importer. The exporter can use the account. This is also called acceptance financing.

ABJUDICATE : Using a court decision to deprive by a judgement of the court. To take away by an adverse court decision.

ACCEPTING BANK : A bank from the exporters country that accepts its bills from the importer.

ACCEPTANCE THEORY OF : A bill accepted when the buyer signs under the word accepted. They are now responsible to pay.

ACCEPTANCE FINANCING : See the definition for acceptance credit for further clarification.

ACCESS LEVEL : Refer to the term system access level for clarification.

ABOVE MARKET COST : A good or service that is more costly that its competitors.

ACCESSIBILITY : The ability and ease a customer can access a service, good, associate, or facility. Or the ability to access records on a system or website.

ACCESSION RATE : The number of new employees hired during a period of time. It is expressed as a percent of the total employees.

ACCEPTANCE MARKET : A short term credit used by exporters to get paid faster. This process occurs when the buyer accepts a bill and converts it into a check that must be paid before the maturation date.

ACCEPTANCE OF A BILL : This occurs when a shipping firm takes temporary custody of a good promising safe delivery. Another term for this is acceptance of shipment.

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