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
ABORTIVE TRIAL : A trial that is incomplete and for some reason or other is terminated before a verdict is reached.
ABRIDGED ACCOUNTS : An account that does not include detailed financial information but records the transactions of a full accounting period. Abbreviated accounts may be a definition of interest.
ABNEGATE : Giving something up or to renounce.
ABOVE WATER : A company who can stay out of debt and economic trouble. This causes them to have a better credit rating and investors see them as well off. They will also be rewarded with a higher line of credit.
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.
ABILITY TO PAY TAX : Refer to the definition of pay principle for clarification.
ABUSE : 1. A misuse of anything. 2. Cruelty that causes harm to another.
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.
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.
ABSTRUSE : Something that is harder to understand for those with only basic knowledge on the topic.
ABUSE OF POWER : The basic abuse of power that can occur when they become too manipulative with those around them and the trust given to them.
ABSORBED BUSINESS : A company that merges with another to gain more stability.
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
ACADEMY OF ACCOUNTIN : A volunteer run organization that studies accounting. Traditionally an accounting historian would be interested in this.
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.
AC-DC OPTION : An option in trading that can be called upon at a later date if the owner so chooses. This is also called a hermaphrodite option.
ACCELERATION PRINCIP : A concept that states that any fluctuation in demand of a good will also change the amount of wear and tear on the machinery required to make the good. This concept is also called accelerator principle.
ACCEPTANCE CRITERIA : A way of accessing the ability of an item to perform its function.
ACCELERATED COST REC : When depreciation occurs faster than expected the US tax allows for it. Assets are divided into classes and the method of depreciation is listed. It is meant to encourage investment. Another term for this is modified accelerated cost recovery system (MACRS).
ACA : This individual works and is bound by the laws of the Institute Of Chartered Accountants.
ACCELERATION LIFE IN : A policy that pays 25 percent of death benefits in the case of a medical emergency.
ACCELERATED OPTION : A clause in life insurance policy that allows a lump sum payment.
ACCELERATED BOOKBUIL : When a company has debt obligations and cannot get funds for a project they purchase stocks as a short term investment boost.
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.
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.