the name for a negligent, careless yet lawfully created nuisance that may cause an injury.

an oath that is taken under some circumstances that will modify and reduce its forcefulness.

An audit done by a third party because the company is holding back important information . The financial statements cant be verified becasue of this. Refer to adverse and unqualified […]

This is a plan that is exempt from tax. It is an approved retirement plan. The plan has been approved to be tax exempt by the IRS.

1. A privilegde, that if used properly, can protect its holder for failure to perform a certain act. 2. The defense in an act of defamation thatb it was made […]

The specifications of a product that has passed qualifications for its use. It will cover its weight and dimensions and its actual use.

A list of products that have been qualified for a certain use. The list is generated by a company so they know the products that they are able to use.

A person who has the means and the ability to purchase a product for their own use. A person is able to make the decision to purchase a product. The […]

the term that is given to a conditional refusal to hand over property that should be legally handed over. The refusal can be due to a lien.

Any interest paid on this bond is not subject to tax if it is used for the purpose of a college education. It is a US EE bond purchased after […]

A trust in which the assets are able to be transferred to a spouse for the length of their life. The assets can also not be transferred to another person […]

the term that describes a person who fulfills all of the qualifications that are needed to vote.

This applies to a widower or a widow who is able to use the married tax option after a spouse has passed away. The qualified widower or widow is able […]

To make one’s self fit or prepared to exercise a right, office, or franchise. To take the steps necessary to prepare one’s self for an office or appointment as by […]

A process that is used to ascertain if a buyer shows the right characteristics that will enables to act as a prospective buyer. These qualities include having the ability to […]

A person under the age of 19 years who satisfies four requirements to qualify. They must live with the person claiming a tax benefit, be a child of them, a […]

a term used for the conditional clause in a contract.

A condition or an occurence that fulfills a set of specific criteria that will allow a payment of insurance benefits to an individual . It may also result in the […]

The steps that are taken in order to determine if an individual meets the requirements of a lending institution for a loan. It also assesses their ability to pay of […]

The number of shares that a member of the board needs to own to qualify to be on the board of directors of a company. If not enough shares are […]

This is a trust fund in which any interest is paid to a surviving spouse after the death of the other spouse.

This describes a property that is associated with a certain item or product. It will describe the reputation, feel, smell, taste, image of a certain product. It can aslo be […]

An analysis of a product that bears no relation to the actual product itself. It is how a person feels about a product and not what the product actually can […]

These are a set of guidelines that must be followed in order to comply with an FASB ruling. A accountant will need to follow these specific guidelins in order to […]

Data that is used to describe a product but not define its characteristics. Non- measurable data that does not include any weight or dimensions. It is information that has been […]