ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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EFFECTIVE DATE OF INTEREST Definition
EFFECTIVE DATE OF INTEREST is the market rate at time of a debt issue.
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DEFINED CONTRIBUTION is a pension design that defines the amount of contributions, usually a percentage of salary. The benefits payable at retirement depend on factors such as future investment return and annuity rate at retirement. If a plan is registered for tax purposes, the maximum contribution amount (usually a percentage of earnings or income up to a dollar limit) is defined by tax regulations.
SERVICE CONTRACT is a contract offered by a retailer for maintaining and repairing a product beyond its manufacturers warranty coverage.
