Accepting assumed explanations or causes as facts to escape discomfort are associated with uncertainty or ambiguity.

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

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.

Drafts and cheques deposited by a customer but have not been cleared or paid by the writer of the cheque, or money is not in depositor’s account yet. Also known as uncollected

Part of the premium applying to a reinsured part of the policy.

Payment that is received before a service is provided or a good is sold.

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

Bidding at a lower price that that of other bidders.

Products that can be replaced with identical products but from different suppliers.

Situation where a plant or machine runs at less than its full capacity in order to accommodate production rate or time for processing.

Unused part of manufacturing costs that can’t be applied to earned income if level of production drops.

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.

Contract for purchase of securities between the underwriter and the issuer of bonds.

Balance of premium that was paid over market price and is waiting to be written off against its expenses.

Underwriter’s group existing temporarily and banks formed for marketing new bonds or shares that is too big for one body to handle it. Also known as underwriting group.

Ownership claim of property or assets commonly owned with restricted claims but no one has an exclusive claim.

Individual or group that consumes services and goods.