Accrued benefits is a business term for the benefits that have accrued to a person in respect of his pension, for the service he has given up to a given date, whether or not he continues in office. Research Accrued Benefits
In business, backwardation is the difference between the spot price of a commodity, including rent, insurance, and interest accrued, and the forward price. Research Backwardation
Dividend stripping (bond washing) is the practice of buying gilt-edged securities after they have gone ex- dividend and selling them cum-dividend just before the next dividend is due. This procedure enables the investor to avoid receiving dividends, which in the UK are taxable as income, and to make a tax-free capital gain. This activity has mainly been indulged in by high-rate taxpayers but has now become of little interest since the rules regulating the taxation of accrued interest were changed. Research Dividend Stripping
The Revenue Scheme was a scheme proposed by the American Continental Congress, in order to enable it to meet its money obligations. Requisitions upon the States, the only mode allowed to Congress by the Articles of Confederation,, had proved a failure. In 1781 Congress proposed an amendment to the Articles, whereby it would be empowered to levy a five per cent duty on imports, to pay the debt accrued fighting the War of Independence. Rhode Island refused her assent. In 1783 Congress asked for this power for only twenty-five years. After many delays, New York refused in 1787, making impossible that unanimous consent which was necessary in order to validate an amendment to the Articles. Then the only plan was that of a Constitutional Convention. Research Revenue Scheme
Abbreviations
Research Accrued Benefits
