Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

UNDIVIDED ACCOUNT

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

UNDIVIDED INTEREST

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

UNEARNED INCOME

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.

UNEARNED REVENUE

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

TAX DISTRICT

An area geographically, with the same calculations for tax.

TAX JURISDICTION

An area, city, municipality, county, country with its own distinct regulations for taxation.

TAX LIABILITY

Tax payer incurred debt to the government. Short term liability.

TAX WAIVER

Document issued by the state specifying that the tax department will transfer stock as it has indicated.

TAYLOR WAGE SYSTEM

Compensation for work completed where the price paid per piece increases with the number produced. See Taylors.

TAYLORISM

Early introduction in the 20th century that was an efficient method breaking every action or task into simple and small parts that can be taught and analysed.

TCP/IP STACK

Computer code augmenting or extending capabilities of TCP/IP where socket software is provided.

TEACHING POINT

1. The smallest part of information that can be imparted as a self-contained unit to the learner.2. Singular statement of a fact or a step-in a process for performing a task.

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