What Is OASDI Tax?

The Social Security charge was made in 1935 as a component of the Old Age, Survivors, and Disability Insurance (OASDI) Act, which was set up by Congress as a feature of the first Social Security Act. It gives advantages to the old, overcomers of the individuals who are qualified to…

Is Prepaid Insurance An Asset?


Any ambiguities in the insurance world can be quite damaging as one will not be able to make an informed decision, it is necessary to be aware of all the insurance lingo. Not only that but being aware of all the definitions can also help in taking you a long…

What is an Open End Mortgage?

You have probably heard about home loans, also commonly known as mortgages. They help you buy a home for yourself after which you can pay back the loan.

There are many types of mortgages. But the one we are curious about is an open end mortgage.

What is an Open End Mortgage?

With an open end…

What is a Cash Disbursement?

The process through which a business or any commercial company buys different items with cash resources is called a cash disbursement. These items can range from a simple raw material needed for manufacturing things to huge machines needed for industrial purposes as well as consumer goods.

The accounting department of a…


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