THIRD PARTY Definition

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THIRD PARTY is someone other than the principals directly involved in a transaction or agreement.

Learn new Accounting Terms

INCOME AFTER TAXES is the net profit earned by the company after deducting all expenses like interest, depreciation and tax. PAT can be fully retained by a company to be used in the business. Dividends, if declared, are paid to the share holders from this residue.

CAR is Certificate of Automobile Receivables; an asset ­backed security supported by automobile loan contracts.

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