Conservatism Principle Conservatism Principle is a theory that entails that profit should be documented only if they are likely to occur, but all prospective costs should be acknowledged.
Principal Curtailment The practice of allocating cash to lower the current due principal amount of the first new mortgage is known as Principal Curtailment.
Income Shifting Income Shifting, also called “Income splitting”, is a taxation strategy in which earnings are transferred from high-income to low-income taxpayers.
Incremental Analysis Incremental Analysis is a choice strategy used to evaluate accounting transactions and choose which of two or more options. For example, businesses utilize incremental...
Scalar principle Scalar principle is the principle of organization that authority and responsibility should flow in a clear, unbroken line from the highest to
Incubator Incubator refers a facility, office, shop, or location in which fledgling businesses can share space, costs, services, and information while
Principle of indemnity Principle of indemnity allows principle that states the insurer agrees to pay no more than the actual amount of the loss. The insured should not profit from a covered loss but should be restored to approximately
Life income option Life income option is a life insurance settlement option in which the policy proceeds are paid during the lifetime of the beneficiary. A certain number of guaranteed payments may also be payable.
Incontestable clause Incontestable clause is a contractual provision in a life insurance policy stating that the insurer cannot contest the policy after it has been in force two years
Definition
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