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Provision for income tax (United States GAAP) In American English, the word provision is used as a synonym for "expense", especially when it appears in a phrase that refers to the income tax cost incurred by a business during an income statement period. In income statements, the appearance of provision for income tax would refer to that expense.
Severability. In law, severability (sometimes known as salvatorius, from Latin) refers to a provision in a contract or piece of legislation which states that if some of the terms are held to be illegal or otherwise unenforceable, the remainder should still apply. Sometimes, severability clauses will state that some provisions to the contract ...
The provision of a lighthouse is a standard example of a public good, since it is difficult to exclude ships from using its services. No ship's use detracts from that of others, but since most of the benefit of a lighthouse accrues to ships using particular ports , lighthouse maintenance can be profitably bundled with port fees ( Ronald Coase ...
Provisioning (technology) In telecommunication, provisioning involves the process of preparing and equipping a network to allow it to provide new services to its users. In National Security/Emergency Preparedness telecommunications services, "provisioning" equates to "initiation" and includes altering the state of an existing priority service ...
Grandfather clause. A grandfather clause, also known as grandfather policy, grandfathering, or being grandfathered in, is a provision in which an old rule continues to apply to some existing situations while a new rule will apply to all future cases. Those exempt from the new rule are said to have grandfather rights or acquired rights, or to ...
The word viaticum is a Latin word meaning "provision for a journey", from via, or "way". For Communion as Viaticum, the Eucharist is given in the usual form, with the added words "May the Lord Jesus Christ protect you and lead you to eternal life". The Eucharist is seen as the ideal spiritual food to strengthen a dying person for the journey ...
Water supply is the provision of water by public utilities, commercial organisations, community endeavors or by individuals, usually via a system of pumps and pipes. Public water supply systems are crucial to properly functioning societies. These systems are what supply drinking water to populations around the globe. [1]
t. e. A will and testament is a legal document that expresses a person's ( testator) wishes as to how their property ( estate) is to be distributed after their death and as to which person ( executor) is to manage the property until its final distribution. For the distribution (devolution) of property not determined by a will, see inheritance ...