ACCRUED INCOME Definition

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ACCRUED INCOME is income earned during a fiscal period but not paid by the end of the period.

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NET ASSET VALUE (NAV) in securities, except money market funds which always have a NAV of $1.00, represents the market value or price of one fund share. It is calculated by the total value of the funds portfolio less liabilities divided by the number of shares; or, in corporate valuations, it is a measure of the shareholders' aggregate wealth in the company, which is defined as the actual or hypothetical market value of the company's assets less its liabilities.

GARNISH is to take a debtor's wages under a legal order, e.g. for child support or an IRS tax liability.

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