Related Words

Paid Amount: The exact amount issued on a bank draft to the provider of service.

Prepaid Interest: An asset account showing interest that has been paid in advance, which is expensed and charged to the borrower's P & L statement.

Prepaid Items: On a closing statement, items that have been paid in advance by the seller, such as insurance premiums and some real estate taxes, for which he or she must be reimbursed by the buyer.

Prepaid Group Practices: Term originally used to describe healthcare systems that later became known as health maintenance organizations.

Prepaid Expenses: Services, goods, and intangibles paid for prior to the period in which they provide benefit. Prepaid expenses are accounted for as assets until their benefit is realized.

Paid-Up Share Capital: The value of issued shares which have been paid for. See Called-up Share capital.

Prepaid Care: Healthcare services provided to an HMO member in exchange for a fixed, monthly premium paid in advance of the delivery of medical care.

Prepaid Group Legal Plan: A benefit plan that provides employees, their spouses or dependents with assistance in obtaining legal services, which have been prepaid in whole or in part by the employer.

Prepaid Ticket: Ticketing method in which a person or company purchases an airline ticket in one location for a traveler in another. The traveler picks up the prepaid ticket from the airline ticket counter.

Summation Layer Amount: The amount of sky cover for each layer is given in eighths of sky cover attributable to clouds or obscurations. The summation amount for any given layer is equal to the sum of the sky cover . . . View Full Definition