ACCEPTANCE SAMPLING Definition

Bookmark and Share

ACCEPTANCE SAMPLING is statistical sampling to determine whether internal control compliance is greater than or less than the tolerable deviation rate.

Learn new Accounting Terms

ADVANCE CORPORATION TAX (ACT) is a UK Corporation tax, required under UK tax rules. It represents a minimum tax on companies that earn most of their profits overseas.

OBLIGATION BOND is a bond signed by a mortgagor (borrower) for an amount greater than the loan amount. Such a bond creates a personal obligation on the part of the borrower and assures the lender of recourse in case of nonpayment of property taxes and insurance or past due interest on the mortgage.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.