A ticket that prohibits monetary compensation when returned, but can be refunded for a fee.

1. Agricultural Financing: In the event of crop fails or insufficient crops which results in the failing of the collateral, the lender cannot claim the loan amount from the borrower. Government schemes

A retirement plan that does not meet the IRS requirement for tax treatments, and as such they do are not considered to be a qualified retirement plan.

A company that is located in an area which is given the status of a nonresident for tax purposes.

1. General: The intention to be liable to one’s obligation according to a contract and expect the the obligee to honor the contract with performance deliverence. 2. Electronic Commerce: Be liable to

A bid that fails to satisfy the specifications of an invitation to propose, bid,etc.

A government owned firm or municipality without the guarantee of government backing on obligations.

The failure to fully examine the available data results in this type of audit risk. It also results from the incompetency on part of the auditor to spot a mistake or a

Errors which are caused by a lack in the clarity of data, inaccurate sampling methods, or failure to meet specifications. Poorly designed surveys, unprofessional selection of procedures and improper allocation of samples

A loan that is used to purchase nonresidential property such as an office building or a factory.

Cost that cannot be assigned to any task or function due to the lack of sufficient data for its assignment. As such, it assigned on an arbitary basis.

A continuous flight journey between the point of embarkation and the point of disembarkation.

Transaction specific cost elements that increase the cost estimates on a casebycase basis.

Interest owed to an individual investor, that does not constitute a trade.

A balance sheet based on the concept that equal value should be placed on a firm’s intellectual and physical assets. As such, it assigns an arbitary value to intellectual assets, intellectual capital

An investment that ought to be cashed in a year after the start of the investment.

A continuous journey between the source point and the destination.

A agent who possesses the license to sell insurance policies in a state other than the one he considers his home state.

A person who engages in investment activities but is not involved or affiliated to the SEC or other agencies. Also, a person who is not an investment broker, but is actively involved

A non-liability becomes a liability only when it becomes payable. For example, the contraction of a previously non-liable loan principle makes it a liability, but the loan interest is granted the status