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

SPECIAL PURPOSE CORPORATION (SPC)

A legal entitiy that is created in order to insulate an issuer of an asset based security from the originator of said asset. A special purpose vehicle.

SPECIAL REPORT

An auditor certified document that measures how a company or business has complied with GAAP.

SPECIAL RESOLUTION

A resolution that requires an important decision to alter terms of articles of association or memorandam of association. It requires no less than 21 days notice, no less than 3/4 of the

SPECIAL SITUATION

A situation that arises that will require a company to sell of some of its shares.

SPECIAL TOOLING

Any specialised equipment that can be only be used for a specific purpose. Items like gauges, dies, molds, jigs, patterns.

REGRESSION ANALYSIS (RA)

Statistical approach to forecasting conversion in a dependent variable based on change in one or more independent variables. Also known also as curve fitting or line fitting.

REGRESSION EQUATION

An equation in math used to determine various predictions about a specific variable as it relates to other variables.

REGRESSIVE TAX

The taxation that takes place on a larger percentage of a lower income and smaller percentage of an income that is higher.

REGRESSION TOWARDS THE MEAN

The statistical propensity of a data series to gravitate towards the center of a distribution, provided it starts on the either end of the distribution and is free to fluctuate.

PREPAID ASSET

A valued instrument such as the monthly rent for a company building, that has not yet been paid. It is usually recorded as an expense.

PREPAID ASSOCIATION DUES

The fees charged by a company that is a part of a recognized organization. An example of such fees would be the rental fees charged by a rental company for the upkeep

PREPAID DUES

The fee paid for an employee by the company for an association with a particular organization or group

PREPAID EXPENSES

Recurring costs incurred by a firm that are settled before the actual incurrment of costs. They are the opposite of deferred charges and include costs such as rent, premiums, interests, etc

PREPAID FREIGHT

Charges for Air or Ocean Freight that is paid for by the exporter at the port of origin, for which the importer has already made the payment. The failure for a shipment

PREPAID INTEREST

When accounts are closed for a month, the prepaid interest is collected which is in fact the partial payment of a month’s interest payment

PREPAID RENT

The fee paid by a company for occupying and utilizing a property for its business operations.

PREPAID TICKET

A ticket bought by the buyer at his/her current location, which allows him/her to make a travel from a different location. The issuance of a prepaid ticket advice (PTA) aids buyers to

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