ABATABLE NUISANCE : Not a permanent nuisance but one that can be corrected easily as not to harm anyone.
APPURTENANCE : That which belongs to something else; an adjunct; an appendage; something annexed to another thing more worthy as principal, and which passes as incident to it, as a right of way or other easement to land; an out-house, barn, garden, or orchard, to a house or messuage. Meek v. Breckenridge, 29 Ohio St. 042; Harris v. Elliott, 10 Pet. 54, 9 L. Ed. 333; Humphreys v. McKissock, 140 U. S. 304, 11 Sup. Ct. 779, 35 L. Ed. 473; Farmer v. Water Co., 50 Cal. 11. Appurtenances of a ship include whatever i
ABNEGATE : Giving something up or to renounce.
ABILITY TO PAY TAX : Refer to the definition of pay principle for clarification.
ABSOLUTE ERROR : An error expressed without any indication as to whether or not its positive or negative.
ABSOLUTE AUCTION : An auction that has no reserve and where the highest bidder receives the item being sold.
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
ABUSE : 1. A misuse of anything. 2. Cruelty that causes harm to another.
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.
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
ABUSIVE DRAW : Prematurely cashing a bond without the knowledge of the owner. While not illegal it is frowned upon.
ACCEPTANCE : 1. Agreements: Two parties agree to the terms of a contract. If it is denied a counter off is made until the agreement is reached. Upon agreement the contract is legally binding when it is signed. 2. Commerce: When a buyer accepts goods delivered. 3. Documentary credit: Agreeing to pay a bill by signing under the word accepted. 4. Legal: When an agent officially authorized acts on an agreement. 5. Shipping: The act of sending a good to a recipient.
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.
ACCEPTABLE RISK : A level of material and human loss involved in the industrial process.
ACCELERATED OPTION : A clause in life insurance policy that allows a lump sum payment.
ACCA : This individual works and is bound by the laws of the Institute Of Chartered Accountants.
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 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.
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 TARIFF E : A free trade move that allows tariffs to be reduced or even eliminated.
ACCEPTABLE QUALITY L : The allowable number of defects permitted.
ACADEMY OF ACCOUNTIN : A volunteer run organization that studies accounting. Traditionally an accounting historian would be interested in this.
ACCESS LEVEL : Refer to the term system access level for clarification.
ACCESS CHARGE : A fee charged by a utility company to disconnect and reconnect a resident.
ABOVE MARKET COST : A good or service that is more costly that its competitors.
ACCEPTANCE OF SHIPME : When a statistic does not support the hypothesis it is considered a null hypothesis.
ACCEPTANCE SUPRA PRO : The authority of a manager to delegate tasks.
ACCESSORINESS : An obligation that occurs when event participation is required during a transaction. Refer to privity.