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A B C D E F G H I J L M N O P Q R S T U V W Z
selected terms: 355 page 3 of 18
Assessment
The valuing of a thing or property
Asset
"A thing, chattel, resource or item or piece of property owned or controlled by a person or company. "
Assets
"Assets: Assets represent what a business owns or is due. Equipment, vehicles, buildings, creditors, money in the bank, cash are all examples of the assets of a business. Typical More…
Assign
To give or to transfer responsibility to another.
Assignment into Bankruptcy
The act of a person who places himself or his company into bankruptcy pursuant to the Bankruptcy and Insolvency Act.
Assignment of Book Accounts
"The assigning by a company or business to a lender, usually a bank, the interest that the person or company has in accounts receivables. "
At cost
"At cost: The 'at cost' price usually refers to the price originally paid for something, as opposed to, say, the retail price. "
Atonement
Satisfaction or reparation of a wrong or injury; to make up for errors or deficiencies.
Attorn
"To turn over; e.g., rent; a tenant agrees to recognize a new party as landlord."
Audit
Audit: The process of checking every entry in a set of books to make sure they agree with the original paperwork (eg. checking a journal's entries against the original purchase and More…
Audit Trail
Audit Trail: A list of transactions in the order they occurred.
Bailiff
"A person who, appointed under law to act or assist any other person to repossess, cease or distrain pursuant to conditions set out in various Acts. "
Bankrupt
A person who has made an assignment or against whom a receiving order has been made or the legal status of that person or corporation.
Bankruptcy
The state of being bankrupt.
Bankruptcy Order (Receiving Order)
"An Order handed down by the Court following the successful petition to have a person or company placed into bankruptcy. In an amendment dated December 15, 2004 this term was changed More…
Beneficiary
"The person who is in receipt, or will be in receipt, of some asset, thing, or thing of value. For example, a person can make a will naming someone, usually their spouse, as More…
Bona Fide
In good faith; genuine; without fraud or deceit.
Book Debts
Accounts receivables owned by a company.
Burn Rate
"The rate at which a company spends its money. Example: if a company had cash reserves of $120m and it was currently spending $10m a month, then you could say that at the current More…
CAIRP (Canadian Association of Insolvency and Restructuring Professionals)
"The Canadian Association of Insolvency and Restructuring Professionals is the national professional organization representing 913 general members acting as trustees in bankruptcy, More…
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