Applied overhead refers to the indirect costs allocated to produced goods or services in a firm’s manufacturing process. These include costs such as utilities, rent, and salaries of the administrative staff.
Factors of production refer to the resources required to produce economic goods, including land, labor, capital, and entrepreneurial ability. Each factor has an associated cost: rent for land, wages for labor, interest for capital, and profit for the entrepreneur.
A landlord is a property owner who rents out their property to another party, known as the tenant, in exchange for rent. The landlord retains ownership of the property while granting the tenant the right to use it as specified in a lease agreement.
Pass-throughs refer to operating expenses that can be charged to a tenant along with the usual rent, as defined in the lease. Additionally, the term also relates to pass-through certificates in the context of mortgage-backed securities.
Prepaid expenses refer to amounts that are paid prior to the period they cover, such as insurance and rent. These expenses are assets on the balance sheet and become tax deductible during the appropriate period.
Quarter Days are four days traditionally recognized at the beginning or end of the four quarters of the year, primarily for purposes such as charging rent. They have historical significance in various parts of the UK.
A payment made for the use of land or property, usually, but not necessarily, based on a lease agreement. Rent is typically paid on a periodic basis and provides tenants the right to temporary use and occupancy of certain real property.
A security deposit is a nontaxable cash payment received by a landlord to be held during the term of a lease to offset damages incurred due to actions of a tenant.
