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

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

The viewing of any form of confidential information without permission.

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

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

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.

Situation where an item’s cost is below the projected cost.

Quantity that would be sold with no constraints like delivery or production.

Damage to property underground such as sewers and pipes by excavation, drilling, backfilling or changing to the ground.

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

Analyst rate of a security that reflects opinion that its will stay behind the market.

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

Expenses of the insurer that can’t be charged to one specific claim.

Underwriting syndicate where each member has dual liability. See divided account.

Account holding income recognised to pay insurance premiums.

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