Liquidating trust and taxable event
(Although most death benefits are paid at termination of life, certain plans now pay accelerated death benefits while the insured is still alive, i.e.: an AIDS patient might possibly receive accelerated death benefit) General provides that payments to the annuitant be postponed until a number of periods have elapsed.
This exists when a control necessary to meet the control objective is missing or an existing control is not properly designed so that even if the control operates as designed, the control objective is not always met.
Substantive tests of financial information which examine relationships among data as a means of obtaining evidence.
Such procedures include: (1) comparison of financial information with information of comparable prior periods; (2) comparison of financial information with anticipated results (e.g., forecasts); (3) study of relationships between elements of financial information that should conform to predictable patterns based on the entity's experience; (4) comparison of financial information with industry norms.
Auction system in which the price of an item is gradually lowered until it meets a responsive bid and is sold.
Percentage of the selling price of the property, paid by the seller.
An alliance of five professional organizations dedicated to disseminating appropriate presentation in which the current amounts and the corresponding amounts for previous periods or dates also are shown. Funds that a borrower must keep on deposit as required by a bank. Goods bought for personal or household use, as distinguished from capital goods or producer’s goods, which are used to produce other goods.
CFPs are not regulated by a governmental authority.
Internal who has satisfied the education, experience, and examination requirements of his or her jurisdiction necessary to be certified as a public accountant.