PAYABLE Definition

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PAYABLE is an amount awaiting payment to be made, e.g. interest payable or taxes payable.

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BID TICK RULE is a NASD rule prohibiting a short sale transaction when the current best bid in a security is less than the previous best bid. That is, when it is on a "down-tick." The bid tick rule does not apply to the OTCBB.

ADJUNCT ACCOUNT is an account that accumulates either additions or subtractions to another account. Thus the original account may retain its identity. Examples include premiums on bonds payable, which is a contra account to bonds payable; and accumulated depreciation, which is an offset to the fixed asset.

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