ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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STATISTICAL Definition
STATISTICAL is making inferences in uncertain situations using applied mathematics. Measurements from a small group (the sample) are used to infer the behavior of a larger group, the population. Probability theory determines how well the sample represents the population.
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BOOK INCOME is the income reported within the financial statements of the taxable entity, i.e., taxable income normally is not aligned with the financial income (book income) reported within financial statements
DUTY is a tax imposed by a customs authority on imported goods. Often used interchangeably with the term "tariff."
