Abatement

Complete removal of an amount due, (usually referring to

a tax ABATEMENT a penalty abatement or an INTEREST abatement within a
governing agency).
 
Accrued Expense
An expense that has occurred but is not recognized in the accounts.
 
Actuary
Mathematician employed by an insurance company to calculate PREMIUMS,
RESERVES, DIVIDENDS, and insurance, PENSION, and ANNUITY rates,
using risk factors obtained from experience tables.
Bequest 
Legal process, governed by federal statute, whereby the DEBTS of an insolvent person
are liquidated after being satisfied to the greatest extent possible by the DEBTOR'S
ASSETS. During bankruptcy, the debtor's assets are held and managed by a court
appointed TRUSTEE.
Collateral 
ASSET provided to a CREDITOR as security for a loan.

Decedent 
Individual who has died.

Defeasance 
Annulment of a contract or deed; a clause within a contract or deed that provides for
annulment.
Insolvency 
Inability to pay DEBTS when due.

liquidity
obsolescence
demurrage
procurement
divestiture
Tangible
Debenture
Waybill
attrition
earmark

cess