Compound interest refers to interest earned on prior interest from an investment. This occurs where an investor continuously earns interest on an outstanding debt owed to them or an investment compounds in value. This is in contrast to simple...
accounting
comptroller
A comptroller is a senior executive who oversees the accounting and financial reporting of a business or government department. The comptroller is responsible for preparing financial reports and overseeing all accounting, including payroll,...
Comptroller of the Currency
The Comptroller of the Currency (“Comptroller”) is the administrator of the federal banking system and chief executive officer of the Office of the Comptroller of the Currency (“OCC”). The Comptroller also serves as a director of the Federal...
constructive receipt of income
Constructive receipt of income is a tax term which determines when a cash-basis taxpayer has received income. Constructive receipt of income occurs when a party obtains income that is not yet physically received but has been credited to the...
contribution
Contribution is an important term in the fields of business and tort law.
Tort LawIn the field of tort law, contribution refers to an action a defendant may bring in a joint and several liability jurisdiction to recover...
cost basis
Also called tax basis, cost basis is the original cost of acquiring a property (usually its purchase price plus any commissions or fees), for tax purposes. It is primarily used for computing capital gain or loss from the transfer of property...
credit
Credit means the right granted by a creditor to an applicant to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment. See: 12 CFR § 1002.2(j)
Business credit refers to extensions of credit...
credit facility
Credit facilities are a type of pre-approved loan which allows the borrower to borrow money on an ongoing basis over an extended period of time, rather than applying for a new loan each time the borrower needs more money. The borrower can...
current asset
Current assets are assets expected to be sold or used in business operations within one year. Examples of current assets are cash, accounts receivable, stock inventory, and other liquid assets.
[Last updated in November of...
current liability
Current liabilities are financial obligations generally due within one year. Examples of current liabilities are accounts payable, short-term debt, dividends, and income tax.
See also: liability
[Last updated in...