LEDGER BALANCE
The balance, as stated in the bank statement, that shows the total amount of money deposited in a personal or business account. To determine the ledger balance, subtract the total number of debits and the total number of credits during the accounting period. It is used solely for reconciling book balances and is not to be mistaken in the customer’s available balance.
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Mutual Exclusion Doctrine
A reciprocal agreement between federal and state and local taxing bodies that mandates mutual exclusion in taxation. The interest earned on federal ...
Stockbroker
1. Company serving as an agent on behalf of its client, charging a commission to the customer for rendering its services.
2. Agent which ...
Cascade Tax
Tax imposed on a good at every production process until it is being sold to the end user. This turnover tax has each successive transfer being taxe ...
Electronic Check
Payment form via the internet designed to perform the same function as a traditional paper check. Since it is in electronic format, it gives greate ...
KGS
Currency abbreviation for Kyrgyzstan (also called Kyrgyz Republic). A fraction of a som is a tiyin, the functional equivalent of a US cent. The pap ...
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