ORDERLY LIQUIDATION VALUE is the liquidation value at which the asset or assets are sold over a reasonable period of time to maximize proceeds received.
OBJECTIVITY PRINCIPLE states that accounting will be recorded on the basis of objective evidence. Objective evidence means that different people looking at the evidence will arrive at the same values for the transaction. Simply put, this means that accounting entries will be based on fact and not on personal opinion or feelings.
REMIC is Real Estate Mortgage Investment Conduit. Refers to U.S. legislation, created with the Tax Reform Act of 1986, that allowed for the issuance of collateralized mortgage obligations.
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