INTERPERIOD EQUITY Definition

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INTERPERIOD EQUITY is a government's obligation to disclose whether current-year revenues were sufficient to pay for current-year benefits, or did current citizens defer payments to future taxpayers, i.e. it refers to whether current-year revenues are sufficient to pay for the services provided that year and whether future taxpayers will be required to assume burdens for services previously provided.

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DEVALUATION, in economics, is the lowering in value of one currency in relation to other currencies.

JOINT VENTURE is a venture by a partnership or conglomerate designed to share risk or expertise. See also VENTURE.

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