BENEFICIARY Definition

Bookmark and Share

BENEFICIARY is a person who benefits from the terms of a trust, pension or provident fund, or other deferred income plan, or an insurance policy. In banking, it is the person in whose favor a letter of credit is issued or a draft is drawn.

Learn new Accounting Terms

ACCRUAL is the recognition of revenue when earned or expenses when incurred regardless of when cash is received or disbursed.

ETHICS, in business, are moral and professional principles.

Suggest a Term

Enter Search Term

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