Category: U

1. Accounting. Income received before a service is provided or a good is sold.2. Taxation. Income from means not arising from a person’s efforts.

Wireless technology like Bluetooth able to transmit large bites of data over a short distance and over a wide band frequency and spectrum.

Same as retained earnings unless a portion is to be held for a certain purpose.

Situation where a bank will credit amount of a draft or cheque to a depositor’s account before it is cleared.

Hotel guest checking out earlier than the scheduled date of departure.

Deducted amount from a sum and classed as interest in advance.

Technique used to locate defects in matter by passing sound energy through the material.

Items in seller’s inventory where the buyer’s order will be taken from.

Situation where overheads applied to work in progress, WIP, is less than overheads actual incurred.

A security with a price expected to rise due to it trading lower than is justified by its estimated and current earnings. See Bottom fishing; Value investing.

Insurance made in advance that the insurance company has not earned.

Sound waves that have a frequency above 20,000Hz and cannot be heard by humans.

Certified Public Accountant’s decision not involved in preparing a financial statement is called in for a unbiased opinion.

Bidding at a lower price that that of other bidders.

Loan under book value due to its (1) not performing, (2) low interest rate below market rate, (3) collateral market value decreases to less than loan balance outstanding or (4) collateral is

Account holding income recognised to pay insurance premiums.