LICENSE Definition

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LICENSE is a legal document giving official permission to do something.

Learn new Accounting Terms

ORDER OF PERMANENCE is where fixed assets are entered in the balance sheet in descending order of permanence (i.e. land first, then buildings, then equipment ...).

15 MINUTE RULE is a timekeeping method used as a semi-official delay prior to ending or beginning an activity. For example: a. Only waiting for a tardy college instructor for 15 minutes prior to the class being terminated, or, b. Putting a 15 minute hands-off delay before impulsively eating a candy when dieting.

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