A detailed examination of pro rata cancellation, where an insurance company revokes a policy and returns the unearned premium to the policyholder without reducing for expenses already paid.
A provision in many property insurance policies that automatically distributes coverage over insured property at various locations in proportion to their value.
Probate is the court-supervised process of authenticating a last will and testament. It involves proving the document's validity and ensuring its execution according to legal requirements.
An in-depth look at probate assets, including their types, legal implications, and relevant examples.
Detailed explanation of probate estate, involving property passing by will or intestate succession law from a decedent to heirs or beneficiaries. Comparison with gross estate included.
The IRS Problem Resolution Program is designed to help taxpayers who are experiencing difficulties in resolving issues with the IRS. This program ensures that taxpayers have a platform to get their voices heard and seek resolution for their problems.
An in-depth exploration of proceeds, focusing on funds received by borrowers and sellers after deductions.
A comprehensive guide to understanding proceeds from resale, including definition, calculation methods, examples, and relevance in various industries.
Producer Goods refer to new machinery and equipment bought for business use and other durable goods that aid in business production processes.
A comprehensive overview of the Producer Price Index (PPI), formerly known as the Wholesale Price Index, including its calculation, significance, and applications.
A detailed exploration of the production function, a mathematical formula that describes how different inputs combine to produce a certain output, applicable to firms or industries. Coverage includes types, historical context, applications, special considerations, and comparisons with related terms.
An in-depth analysis of the Production Possibility Frontier (PPF), a curve depicting various combinations of goods that an economy can produce using all available resources.
A comprehensive examination of the production-possibility curve, illustrating the trade-offs and opportunity costs in resource allocation for two goods with a fixed supply of resources.
Professional liability is the legal responsibility held by individuals with expertise in specific fields, heightened by their commitment to perform services with a higher standard of care. This concept is crucial in fields like medicine, law, and accountancy.
Professional Liability Insurance provides coverage for specialists in various professional fields, protecting them against claims arising from their business or professional pursuits.
A comprehensive guide to understanding the Profit and Loss Statement (P&L), which summarizes the revenues, costs, and expenses of a company during an accounting period.
A profit center is a distinct segment or division within a business organization responsible for generating its own profits and managing its own expenses. This article explores the definition, types, considerations, and practical examples of profit centers.
An in-depth exploration of Profit Margin, its significance, types, calculation, examples, and application in business and finance.
Comprehensive overview of the Profit Motive, its significance in business, tax implications, historical context, and related concepts.
An in-depth exploration of the term 'Profit Squeeze,' detailing its causes, implications, and examples.
The profit system is a critical component of the capitalist economic framework, wherein profit motivates entrepreneurial activities and shapes market production.
An in-depth exploration of profit taking as a strategy employed by traders to secure gains by selling assets following a short-term price increase, and its impact on market movements.
A detailed overview of a Profit-Sharing Plan, its mechanisms, benefits, and key considerations.
A comprehensive guide to understanding and implementing profit-taking strategies in investments and trading.
A comprehensive overview of profitability ratios, which measure earnings as a percentage of sales, total costs, total assets, or equity.
The term 'Profiteer' refers to an individual or entity that makes excessive profits, often at the expense of others. Profiteering entails exploiting situations such as crises, shortages, or monopolistic practices to gain disproportionately high financial gains.
The Profits and Commissions Form is an insurance coverage protecting future profits and commissions which can be lost due to the destruction of a manufacturer's inventory by an insured peril.
Program Budgeting is a method of budgeting expenditures aimed at meeting specific programmatic objectives rather than a traditional line-item basis, using performance objectives to prioritize costs across related functions.
Institutional buying (buy program) or selling (sell program) of all stocks in a program or index on which options and/or futures are traded. Massive program trade activity has been held responsible for large-scale daily stock market fluctuations.
An in-depth exploration of progress payments, their applications in construction and other industries, and their significance in project management.
A comprehensive overview of progressive tax systems, their function, implementation, and impact on different economic classes.
Explore the actuarial valuation of projected benefit obligations in pension plans, considering future compensation levels and employee service to date, highlighting key concepts, formulas, and implications.
An in-depth overview of Projected Financial Statements, their purpose, types, and applications in financial planning.
In economics, finance, and corporate planning, 'projection' refers to the estimate of future performance typically formulated by experts such as economists, corporate planners, and credit and securities analysts. This includes projecting metrics like GDP, inflation, unemployment, and company cash flow.
Understanding the time duration for estimating future cash flows and resale proceeds from an investment, significantly impacting discounted cash flow analysis.
A comprehensive guide to promissory notes, an essential financial instrument in which the maker commits to pay a specified amount of money at a designated time.
Prompt: Payment deadlines and computer input indicators.
A Proof of Claim is a formal document filed with a court by a creditor to verify their position as a holder of debt, typically in bankruptcy proceedings.
A comprehensive guide to understanding Proof of Loss, its importance, types, requirements, and examples.
An in-depth look at Property Damage Liability Insurance, which covers damages caused by the insured's negligent acts or omissions.
A detailed overview of Property Depreciation Insurance, a type of coverage that provides for the replacement of damaged or destroyed property on a new replacement cost basis without any deduction for depreciation.
Comprehensive Overview of Property Insurance: Types, Coverage, Importance, and Examples
An in-depth look at property tax, including its definition, types, calculations, historical context, and role in financing local governments and schools.
Proportional Taxation refers to a tax system where the tax rate remains consistent regardless of the taxpayer's income level. Unlike progressive or regressive taxation systems, proportional taxes ensure that all taxpayers are taxed at the same rate.
Proprietary interest refers to any right in relation to a chattel that enables a person to retain its possession indefinitely or for a period of time.
An in-depth look at proprietorship income, emphasizing the tax implications for income earned in businesses that are sole proprietorships, which are owned by a single individual and are not incorporated.
Prospectus: Detailed Description of a Formal Written Offer to Sell Securities, including Plan for Proposed Business or Existing Enterprise.
A comprehensive analysis of prosperity, characterized by economic growth, low unemployment, and a general sense of well-being among the population.
A comprehensive overview of protectionism, its policies, implications, and historical context in economics.
The principal value of an oil or gas property, demonstrated through prospecting, exploration, or discovery work, distinguishing between development wells and wildcat wells.
An in-depth analysis of the proxy fight method used by acquiring companies to gain control of a target company by persuading its shareholders.
An in-depth look at the Proxy Statement, which encompasses essential information mandated by the SEC for shareholders before proxy voting.
The Prudent-Man Rule is a standard adopted by some U.S. states to guide fiduciaries responsible for investing the money of others. It mandates acting with discretion, intelligence, and caution, aiming to seek reasonable income and preserve capital.
An in-depth exploration of psychic income, its forms, applicability, and relevance in various fields including economics, finance, and social sciences.
An in-depth look at Public Accountants, their historical significance, and their role in the modern financial landscape.
A comprehensive exploration of Public Accounting, focusing on the function of Certified Public Accountants (CPAs) and their roles in issuing an Accountant's Opinion or Auditor's Report.
An in-depth look into the role of a Public Adjuster, a professional who represents an insurance claimant, often an owner, in the event of major property damage.
Understanding the tax-exempt organization known as public charity, its characteristics, contribution limitations, income requirements, and related tax benefits.
Public Debt refers to the total amount borrowed by governments to finance expenditures that exceed tax revenues, addressed through instruments like bonds, loans, and treasury bills.
Public Housing Authority Bonds are financial instruments issued by local public housing agencies, secured by an agreement with the Department of Housing and Urban Development. These bonds facilitate funding for local housing projects by ensuring federal loans to cover principal and interest to maturity.
A comprehensive overview of Public Offering, its types, regulatory requirements, examples, historical context, and related terms.
Public Ownership entails government ownership and operation of productive facilities and the portion of a corporation's stock traded in the open market. This entry covers its implications, examples, historical context, and impact.
Learn about Public Sale, a sale open to the public where members can bid, including types, procedures, legal contexts, and common examples.
A comprehensive overview of public utilities, their nature as natural monopolies, government regulations, and the evolving landscape of deregulation and competition.
A Publicly Held Corporation, also known as a publicly traded company, is a corporation that has its common stock registered on a national stock exchange. This detailed entry explores its characteristics, types, advantages, regulations, and more.
Understanding what a publicly traded corporation is, its characteristics, benefits, drawbacks, historical context, and related terms.
A comprehensive look at Publicly Traded Partnerships (PTPs), their characteristics, regulatory requirements, and their role in the financial market.
PUFFING refers to the practice of overstating or exaggerating the qualities of a property, often by a salesperson. It can be grounds for a misrepresentation lawsuit.
Comprehensive definition of the Pump and Dump scheme, an illegal practice involving the artificial inflation of stock prices for profit.
Punitive damages are a form of monetary compensation awarded in legal cases involving malicious and willful misconduct. They are meant to punish the wrongdoer and provide reparation to the injured party, though they are typically taxable unless related to physical injury or sickness.
A detailed explanation of purchase acquisition in contrast to exchange, gift, or inheritance, highlighting its significance in establishing the original cost basis.
An in-depth exploration of Purchase Capital—its importance, components, and applications in business and investments.
A Purchase Contract, also known as a Contract of Sale or Purchase Agreement, outlines the terms and conditions of a transaction between a buyer and a seller.
A comprehensive guide to understanding Purchase Discounts, including definitions, examples, comparison with other types of discounts, and their application in various industries.
A comprehensive guide to understanding the purchase journal, an essential record book in accounting for recording all purchase transactions.
An in-depth examination of purchase money mortgages, their types, applications, historical context, and relevance in modern real estate transactions.
A Purchase Order is a legally binding document issued by a buyer to a seller, authorizing the purchase of specific goods or services at an agreed-upon price.
Purchasing Power of the Dollar is the measure of the amount of goods and services that a dollar can buy, taking into account historical changes due to inflation or deflation.
Purchasing Power Parity (PPP) is an economic theory that estimates the currency exchange rates necessary in a foreign trade situation so that each currency has the same purchasing power.
Purchasing Power Risk is the risk that inflation will erode the value of the currency in which a financial deal has been made. Explore its significance in long-term investments such as U.S. Treasury bonds, and understand how it differs from default risk.
Pure Capitalism is an economic system where capitalist principles operate without government interference. The government's role is limited to functions that no other entity can perform.
A comprehensive exploration of a pure-market economy, where pure competition prevails, delineating its definition, characteristics, implications, historical context, and related concepts.
A detailed explanation of Push Money (PM), its types, considerations, examples, historical context, applicability, related terms, and FAQs.
A put option contract grants the holder the right to sell a specific number of shares at a specified price by a certain date. It is considered a capital asset when held by a nondealer.
Understanding 'Put to Seller': Used when a Put Option is exercised, obligating the writer to buy the underlying shares at the agreed-upon price.
Detailed explanation of pyramiding in finance, business structuring, and fraudulent activities.
A Q-TIP Trust, also known as Qualified Terminable Interest Property Trust, is a type of trust that allows a person to provide for their surviving spouse while maintaining control over the trust's principal after the spouse's death.
A detailed exploration of QE2 (Quantitative Easing 2), its implementation, purposes, impacts, controversies, and economic implications.
A comprehensive guide to understanding qualified charities, their requirements, benefits, and distinctions in tax laws.
A qualified endorsement is a type of endorsement on negotiable instruments designed to limit the endorser's liability.
Understanding the implications and reasons behind a qualified opinion in the auditor's opinion accompanying financial statements.
A detailed explanation of what constitutes a Qualified Organization, including its qualifications, applications, and implications in various sectors.
An exploration of Qualified Organizations, their criteria, types, and implications for charitable contributions within the context of tax deductions.
A qualified plan, also known as a qualified trust, is an employer-sponsored pension or profit-sharing plan that adheres to the rules set forth by the Internal Revenue Service, providing tax benefits and ensuring compliant employee benefits.
Comprehensive overview of qualified replacement property, its relevance in like-kind exchanges and involuntary conversions according to IRS regulations, examples, special considerations, and FAQs.
A comprehensive guide on Qualified Residence, the primary and secondary residences for tax deduction purposes, including interest deduction and eligibility criteria.
Qualified Residence Interest refers to the interest on a home mortgage, which may be deductible as an itemized deduction. This includes interest on acquisition indebtedness and home equity loans.
A comprehensive overview of Qualified Transfer for tax-exempt payments related to education and medical care. Learn about the details, applicability, and examples.
A detailed overview of the Qualified Tuition Program (529 Plan), a tax-advantaged savings plan designed to encourage saving for future education costs.
An investment vehicle created under the Small Business Job Protection Act of 1996 that allows individuals to make tax-deductible contributions to accounts that accumulate tax-free income if used to cover a beneficiary's qualified educational expenses.
