| x | x |
| illiquid | not easily convertible into cash |
| IMF | International Monetary Fund |
| income tax | tax levied on any income |
| inflation rate | a rate at which the general price level increases |
| inheritance tax | tax payable on property inherited after somebody's death |
| insolvency | the inability to pay debts |
| interest | the rate that a lender charges for a loan |
| interim dividend | a dividend whose value is determined on the basis of a period less than a full fiscal year |
| Internal Revenue Service | tax office |
| invoice | a document that the supplier sends to a customer detailing the cost of product and requesting paymen |
| joint venture | a project undertaken by two or more parties |
| ledger | a book in which transactions are recorded |
| legal tender | banknotes and coins accepted within a given jurisdiction |
| lessee | the person who uses a leased asset |
| quoted company | companies listed on a stock exchange |
| public debt | the money that the government owes |
| profiteer | an individual who aims to make excessive profits disregarding others |
| profit and loss account | the summary record of a company's sales revenues and expenses over a period |
| proceeds | an income from a transaction |
| parent company | a company with one or more subsidiary undertakings |
| principal | the original amount of a loan not including interest |
| pension | money received regularly after retirement |
| PIN | personal identification number |
| payslip | a small document showing details of money earned and tax and insurance paid |
| payroll | a list of employees who receive salaries or wages, together with the amounts due to each |
| overdraft | withdrawal of more money from a bank account than it contains |
| NYSE | New York Stock Exchange |
| near money | assets that can be quickly turned into cash, e.g. bank deposits, short-dated bonds |
| national debt | the total borrowing of a country's government |
| mortgage | a credit to finance the acquisition of land and real property |
| money laundering | the process of making money obtained illegally appear legitimate |
| market economy | an economy in which a free market in goods and services operates |
| margin | the difference between the cost and the selling price of a service |
| management buy-out | the purchase of an existing business by an individual manager or management group from within that b |
| majority shareholder | a shareholder with a controlling interest in a company |
| long-term liabilities | loans that are due after at least one year |
| loan shark | somebody who lends money at excessively high rates of interest |
| lessor | the person who provides the asset being leased |
| red tape | excessive bureaucracy |
| stock exchange | a registered market in securities |
| sleeping partner | a person or entity that invests money in a company but takes no part in the management of the busine |
| share issue | the offering for sale of shares in a business |
| shareholder | a person or entity that owns shares in a company |
| secondary market | a market that trades in existing shares rather than new share issues |
| savings account | an account with a bank that pays interest |
| salary | a form of pay given to employees at regular intervals for the work they have done |
| royalties | a proportion of the income from the sales of a product to its creator or owner, e.g. a land owner, i |
| rogue trader | a dealer in stocks and shares who uses illegal methods to make profits |
| revolving credit | a credit facility which allows the borrower to borrow or repay debt as required |
| revenue | the income generated by a product or service |
