ASSET REVERSION is asset recovery by the sponsoring employer through termination of a defined benefit pension fund and/or of assets in excess of amounts required to pay accrued benefits of a pension fund. In the U.S., assets recovered through reversion are subject to corporate income tax and an excise tax.
BILLINGS, generally, is the request for payment of a debt. In accounting, it is sales for which invoicing has been issued.
SUBLET, in real estate, refers to the leasing of space within a leased facility by the original lessee.
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