Accounting Terms and Definitions
Capable of being transferred from one party to another. Checks, drafts, securities, and commercial paper are negotiable.
The total value of a share in a mutual fund. The net-asset value is what each share would be worth if all shares were suddenly paid out.
The total value of the assets of a business less the liabilities.
A mutual fund that charges no sales commission.
Refers to the lack of a legal claim against a party to a contract. In a nonrecourse arrangement, one or both parties are not liable if the contract is not fulfilled. The “wronged” parties, therefore, have no recourse to the law.
A public officer who attests to the authenticity of deeds, affidavits, and depositions.
A written promise to pay a debt or sum of money.
In a general ledger, an account showing the business’s liability for promissory notes.
In a general ledger, an account showing the business’s promissory notes received from customers.
- Accounting Formulas
- Accounting Terms
- Accrual Basis Accounting vs. Cash Basis Accounting
- Analyzing Multifamily Real Estate Investments
- Construction Accounting
- Converting from Cash Basis Accounting to Accrual Basis Accounting
- How to Be a Good Bookkeeper
- How to Compare Rental Property Investments
- How S Corporations are Taxed
- Protecting Your Business From Embezzlement
- Tracking Rental Property with Quicken Software