Joint Return

In the context of tax collection, jeopardy refers to a situation where the IRS believes that the collection of tax is at risk of being uncollected, prompting immediate assessment and collection of such tax without the intermediate procedural steps.

A customer request for a specific quantity of products that are designed and manufactured to unique specifications.

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. Each of the participants is responsible for profits, losses, and costs associated with the venture.

A book or digital record in which all daily financial transactions are initially recorded in chronological order.

A record in the general journal that documents a single financial transaction, detailing the accounts affected and the amounts involved.

Debt securities issued by companies with higher than normal credit risk, classified as 'non-investment grade' bonds. These securities typically offer a higher rate of interest to compensate for the increased risk.

An inventory management philosophy in which resources, including materials, personnel, and facilities, are utilized only as needed, with the goal of minimizing waste and increasing efficiency.