Glossary of Terms
| Base year | The Company's current fiscal year. Since complete financial statements are not available for the current year, sales and income are projected based on the expectations of management. A double base year is used when the Company is within a few months of the end of its fiscal year, or has completed its fiscal year but does not yet have financial statements for that year. |
| Book value | The value at which an asset is carried on a company's balance sheet. See Recase Book Value. |
| Bill of sale | A written instrument which is the evidence of transfer of one person's right in personal property to another. |