PROFESSIONAL INVOICE Definition

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PROFESSIONAL INVOICE is an invoice associated with professional services rendered, i.e. medical, legal or accounting services. See SERVICE INVOICE and PRODUCT INVOICE.

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PERSONAL EQUITY is that portion of equity ownership that is held to ones own benefit or invested as an integral part of the assets of a legal entity.

EXPENDABLE TRUST FUND is a governmental fiduciary fund held in a trustee capacity by a governmental agency that accounts for assets and activities restricted to a specific purpose in accordance to formal intent. The principal of the fund can be expended towards only the activity specified, e.g., Unemployment Compensation Fund, Employee Benefits Fund, etc.

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