ALLOWANCE FOR NOTES RECEIVABLE LOSSES Definition

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ALLOWANCE FOR NOTES RECEIVABLE LOSSES is an account maintained at a level considered adequate to provide for probable losses. The provision is increased by amounts charged to earnings and reduced by net charge-offs. The level of allowance is based on management's evaluation of the portfolio, which takes into account prevailing and anticipated business and economic conditions and the net realizable value of securities held.

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UN-PRESENTED CHECK is a check that was written but has not yet been forwarded to or paid by the bank on which it is drawn.

TAXABLE EQUIVALENT YIELD is the yield that must be received on a taxable security to provide the holder with the same after-tax return as that earned on a tax-exempt bond or preferred stock.

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