What is a Dynasty Trust
A dynasty trust is a type of irrevocable trust that can span multiple generations. It is often used to minimize estate taxes and protect assets from creditors. Dynasty trusts are subject to different rules than...
What is the inflationary gap and what factors contribute to it
The inflationary gap occurs when there is more money chasing after goods and services than there are goods and services available. This often leads to an increase in prices,...
What is equilibrium quantity and why is it important in Economics
In Economics, equilibrium quantity is the amount of a good or service that will be produced and consumed when there is no shortage or surplus. In other words, it...
What is a reference number and what does it mean for me as a cardholder
A reference number is a unique identifier assigned to any financial transaction. This number is created technologically and designated for a single transaction. A reference...
What is clawback and how does it work
Clawback is a term used in the business world to describe a situation where a company asks an employee to return money that was previously paid out. This can happen for a...
What is Vertical Analysis
When financial statement users want to compare line items on different financial statements, they often use horizontal or vertical analysis. Horizontal analysis compares line items of the same category over a period of time. For example,...
What is nonfeasance and what are the consequences
Nonfeasance is a legal term that refers to the failure to take action when there is a duty to do so. In other words, it is the failure to act in a...
What is Tenancy at Sufferance
Tenancy at sufferance is a type of tenancy that exists when a tenant remains in possession of a property after their lease has expired, without the express permission of the landlord. The tenant is technically...
What is the recessionary gap and what does it mean for the economy
The recessionary gap is the difference between what the economy is capable of producing and what it is actually producing. It occurs when there is a decrease...
What is a risk premium
A risk premium is an additional return that an investor requires for bearing risk. The concept is used in different ways by different theorists, but the general idea is that investors require a higher return...