Examlex
What portion of the subsidiary stockholders' equity account balances should be eliminated in preparing the consolidated balance sheet?
Note Payable
A financial obligation or loan evidenced by a written promissory note specifying payment terms.
Discounted Note
A promissory note whose proceeds are issued at a price lower than its face value, with the difference compensating the lender for risk.
360-Day Year
An accounting convention that simplifies interest calculation by assuming all months have 30 days, resulting in a 360-day year.
Interest Charged
The cost incurred for borrowing money or the amount earned on deposited funds, usually expressed as a percentage of the principal.
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