owner's equity caused by a transaction that is not part of the typical
operations and not part of an owner's investments.
LOAN - An
interim financing that provides funding between construction advances
the placement of permanent financing. It may be utilized when funds are
being withheld by the permanent lender due to delays in meeting stated
objectives concerning a project.
LEDGER - Those
accounts filed together which supply information for the preparation of
Participant in limited partnership who manages the operation and is
for all debts.
FAITH - Honesty
business asset that arises from the expectation of continued business
accruing from the good reputation of a business.
Payment plan with specified regular increases of individual payments to
a pre-determined level.
- Overall total
before deductions (whole amount).
INCOME - Total
income from all sources paid to the business.
PROFIT - Net
sales less the cost of goods sold.
- The ratio of gross profit to sales. To calculate, divide gross profit
by sales. This is key measure, often used to determine the health of a
- A collection
of individual RSP-s (Retirement Savings Plans) that an employer offers