Notable Quotable
"The hardest thing in the world to understand is the income tax." -Albert Einstein
Term of the Day


  1. contractual agreement in which a borrower receives something of valuenow and agrees to repay the lender at some later date. When a consumerpurchases something using a credit card, they are buying on credit (receivingthe item at that time, and paying back the credit card companymonth by month). Any time when an individual finances something with aloan (such as an automobile or a
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Usage Example
If you are a member of a credit union, or know of one that you could join, this could be your best option since credit unions are non-profit organizations.
Term of the Day

balance sheet

condensed statement that shows the financial position of an entity on a specified date (usually the Last day of an accounting period).
Among other items of information, a balance sheet states (1) what assets the entity owns, (2) how it paid for them, (3) what it owes (its liabilities), and (4) what is theamount left after satisfying the liabilities. Balance sheet data is based on a
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Usage Example The first section contains vital financial information on the company including its cash flow, balance sheet, shareholder equity etc.
Daily Corruption News from Transparency International:
Today's top story
Germany: Germany to regulate switch from politics to business
Deutsche Welle (TI mention)
When former German chancellor, Gerhard Schröder, joined the supervisory board of pipeline consortium Nordstream in March 2006, it raised a few eyebrows - and not just because Russia's state-owned Gazprom is involved in the project.
News from Transparency International