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GAAP

The measurement rules used to develop the information in financial statements.

GAIN

 

excess of money or fair value of property received on sale or exchange over the...

GAIN CONTINGENCY

potential or pending development that may result in a future gain to the company, such as a...

GAME THEORY

analytical approach to competitive situations where two or more participants pursue conflicting...

GANTT CHART

graphical representation of a project schedule used to plan or monitor progress.

GDP deflator

A price index that refers to all goods and services included in GDP.

GDP gap (real)

The difference between fullemployment GDP and equilibrium GDP.

GDP per capita

Total GDP divided by total population; average GDP.

GENERAL ACCOUNTING OFFICE (GAO)

agency established to assist Congress in its oversight of the executive branch and to serve as...

GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)

agreement between noncommunist nations with economic interests in international trade relations...

GENERAL AND ADMINISTRATIVE EXPENSES

all expenses incurred in connection with performing general and administrative activities....

GENERAL BALANCE SHEET

presentation form of the balance sheet of institutions such as governmental, religious,...

GENERAL BUSINESS CREDIT

credit directly reducing tax applicable to low-income housing and targeted jobs.

GENERAL CONTINGENCY RESERVE

appropriation of retained earnings for general purposes rather than for a specific item of...

GENERAL FIXED ASSET ACCOUNT GROUP

in GOVERNMENT ACCOUNTING, self-balancing set of accounts to account for the general fixed assets...

GENERAL FUND

in GOVERNMENTAL ACCOUNT, fund used to account for all assets and liabilities of a nonprofit...

GENERAL JOURNAL

simplest type of journal. It is used when no special journal exists to record a transaction,...

GENERAL LEDGER

record of a business entity's accounts. The general ledger contains the accounts that make up...

GENERAL LONG-TERM DEBT ACCOUNT GROUP

 

GOVERNMENT ACCOUNTING term. Grouping is used to account for the outstanding...

GENERAL OBLIGATION BOND

security whose payment is unconditionally promised by a governmental unit that has the power to...

GENERAL PARTNER

1. member of a partnership who is jointly and severally liable for all debts incurred by the...

GENERAL PRICE INDEX

 

GENERAL PRICE LEVEL ACCOUNTING

restating financial statements in terms of general purchasing power by using a GENERAL PRICE...

GENERAL REVENUE SHARING

unrestricted funds provided by the federal government to the fifty states and to cities, towns,...

GENERAL-PURPOSE FINANCIAL STATEMENT

statement prepared to meet the needs of all financial statement users as opposed to meeting the...

Generally Accepted Accounting Principles

The measurement rules used to develop the information in financial statements.

GENERALLY ACCEPTED AUDITING STANDARDS (GAAS)

 

GENERALLYACCEPTED ACCOUNTING PRINCIPLES (GAAP)

standards, conventions, and rules accountants follow in recording and summarizing transactions,...

geometric growth

An increase in quantity by a constant proportion each year.

GIFT TAX

tax levied on the transfer of property or money made without adequate legal consideration. This...

Gini coefficient

A mathematical summary of inequality based on the Lorenz curve.

GOAL CONGRUENCE

term used when the same goals are shared by top managers and their subordinates. This is one of...

GOAL PROGRAMMING

form of LINEAR PROGRAMMING that considers multiple goals that are often in conflict with each...

GOAL SEEKING

situation in which a manager wishes to determine what change would have to take place in the...

GOING PUBLIC

process by which shares of common stock are first offered for sale in the public markets (...

Going-Concern Assumption

States that businesses are assumed to continue to operate into the foreseeable future....

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