Examlex
What is an interactive website kept constantly updated and relevant to the needs of its customers using a database?
Revenue Recognition
The accounting principle governing the specific conditions under which revenue is recognized or recorded.
Nonrefundable Up-Front Fees
Payments made upfront for services that will not be returned, even if the service or product is not used or delivered as expected.
GAAP
Generally Accepted Accounting Principles; a set of accounting standards and practices used to prepare financial statements in the U.S.
Service Contract
A service contract is a legally binding agreement between two parties where one agrees to provide a specified service to the other for a payment.
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