DefinitionBailment describes a legal relationship in common law where physical possession of personal property, or a chattel, is transferred from one person to another person who subsequently has possession of the property. It arises when a person gives property...
What is 'Named Perils Insurance Policy' A home insurance policy that only provides coverage on losses incurred to your property from hazards or events named on the policy. Named peril policies may be purchased as a less...
What is 'Idle Funds' Money that is not invested and, therefore, earning no interest or investment income. Idle funds are simply funds that are not deposited in an interest bearing or investment tracking vehicle, that is, not...
What is 'Unbiased Predictor' The notion that the current market price of a physical commodity (its cash price or currency) will be equal to its anticipated future price based on the market's forward rate. Like anything that...
What is ‘Real Estate Operating Company – REOC'
A company that invests in real estate and whose shares trade on a public exchange. A real estate operating company (REOC) is similar to a real estate investment trust (REIT), except that...
What is 'Canadian Investor Protection Fund - CIPF' A Canadian not-for-profit organization set up by the investment industry designed to protect investors from the bankruptcy of an individual investment firm. Accounts are covered for up to...
DefinitionIn finance, the acid-test or quick ratio or liquidity ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately. Quick assets include those current assets that...
DefinitionThe National Bank Surveillance System is a computerized, off-site monitoring system developed by the U.S. Office of the Comptroller of the Currency "to assist in the early detection of problem banks and bank management," for the purpose of initiating...
What is the formula for calculating EBT?
Question: Which of the following formulas is NOT a formula used to calculate Earnings Before Tax (EBT)?
EBT = Sales Revenue – COGS – SG&A – Depreciation and Amortization.
EBT = EBIT –...
DefinitionKarl Hans Albrecht was a German entrepreneur who founded the discount supermarket chain Aldi with his brother Theo. He was for many years the richest person in Germany. As of February 2014, he was ranked as 21st-richest person in...