PRUDENCE is having foresight and caution along with discretion, and to not act recklessly.
FLAT INTEREST refers to charging interest on the full original loan amount, rather than on the declining balance. With group based loans, for example, a common "interest rate" is "3% per month, flat, for 4 months". This means that a $100 principal amount lent is multiplied by 3%, and then by 4 months to come up with $12 in interest. Thus, $112 would be repaid over 4 months in equal installments.
INCOME TAXES PAYABLE is income taxes due including current portion of deferred taxes.
Enter a term, then click the entry you would like to view.