Paid Time Off (PTO): A benefit program granting employees a specific number of vacation or personal days off which that are paid by the employer. The number of days is generally based on the employer’s policy for accrual of paid time off.

 

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Paid Time Off (PTO): A benefit program granting employees a specific number of vacation or personal days off which that are paid by the employer. The number of days is generally based on the employer’s policy fo . . . View Full Definition

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 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.

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 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.

Prices Paid Index: An index that measures changes in the prices paid for goods and services used in crop and livestock production and family living. The production component of the index accounts for over 65% . . . View Full Definition

Primary Coffee Taste Sensations: Acidy, mellow, winey, bland, sharp and soury.

Pressure Altimeter: An aneroid barometer calibrated to indicate altitude in feet instead of units of pressure. It is read accurately only in a standard atmosphere and when the correct altimeter setting is used.