| GAIN -
Increase in
owner's equity caused by a transaction that is not part of the typical
operations and not part of an owner's investments.
GAP
LOAN - An
interim financing that provides funding between construction advances
and
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.
GENERAL
LEDGER - Those
accounts filed together which supply information for the preparation of
financial statements.
GENERAL
PARTNER -
Participant in limited partnership who manages the operation and is
liable
for all debts.
GOOD
FAITH - Honesty
of intention.
GOODWILL
- Intangible
business asset that arises from the expectation of continued business
activity
accruing from the good reputation of a business.
GRADUATED
PAYMENT -
Payment plan with specified regular increases of individual payments to
a pre-determined level.
GROSS
- Overall total
before deductions (whole amount).
GROSS
INCOME - Total
income from all sources paid to the business.
GROSS
PROFIT - Net
sales less the cost of goods sold.
GROSS
PROFIT MARGIN
- 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
business.
GROUP RSP
- A collection
of individual RSP-s (Retirement Savings Plans) that an employer offers
to employees.
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