Glossary

A Concentration is a type of deposit account used internally at an institution, where funds are aggregated from multiple areas or transactions into one centralized account.

Consigned Inventory is an inventory strategy that puts the inventory in possession of the customer, but is still owned by the supplier.

A Consignment Sale is a form of trade of merchandise from seller to an ultimate buyer through a non-ownership platform (e.g., reseller, store, website, etc.), whereby the platform receives a fee or pre-arranged sale amount for facilitating the transaction or selling the merchandise.

A Contra Account is an account on the same financial ledger as an equivalent account and is used to reduce the value of such equivalent account. The contra account's values offset those of the equivalent account, such that, if a debt is recorded in the equivalent account, for example, a credit is simultaneously recorded in the contra account.

A Conversion (also known as Build-Out) is the process or work preformed (e.g., construction, re-zoning, etc.) to change one type of real estate use to another type of real estate use.

A Copyright is a form of intellectual property protection. Under U.S. law, copyright protection is available for original works of authorship that are fixed in a tangible form. 

Corporate Resolutions are (often written) declarations made by the board of directors or other managing body of a corporate entity, authorizing and effecting certain actions taken or to be taken by the entity.

A Cost Test is a process used to determine if the costs associated with a business will outperform a benchmark or other estimated standard, which aids in the decision of whether to pursue a specific business activity.