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LSDefine

Simple English definitions for legal terms

annual account

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A quick definition of annual account:

An annual account is a report that shows all the financial transactions that happened in a year. It is like a diary of money coming in and going out. Annual crops are plants that grow and are harvested in one year. Annual depreciation is when something loses value over a year. An annual exclusion is a certain amount of money that you can give to someone without having to pay taxes on it. An annual meeting is a gathering of people that happens once a year. An annual message is a speech or statement that someone gives every year. An annual percentage rate is the amount of interest you pay on a loan or credit card each year. An annual permit is a fee that some companies have to pay every year to do business in a certain state.

A more thorough explanation:

An annual account is a type of account that is reviewed or updated on a yearly basis. It is also known as an intermediate account.

Annual crops are plants that are grown and harvested within a single growing season. Examples include corn, wheat, and soybeans.

Annual depreciation is the amount of value that an asset loses each year due to wear and tear or obsolescence. It is used to calculate the asset's book value.

Annual exclusion is a tax rule that allows individuals to give a certain amount of money to another person each year without having to pay gift tax. For example, in 2021, the annual exclusion amount is $15,000.

An annual meeting is a gathering of shareholders or members of an organization that takes place once a year. It is usually held to elect board members and discuss important issues.

The annual percentage rate (APR) is the interest rate charged on a loan or credit card on an annual basis. It includes both the interest rate and any fees associated with the loan or credit card.

An annual permit is a license or authorization that must be renewed each year. For example, some states require corporations to obtain an annual permit to do business in the state.

Examples illustrate the definition by providing specific instances of the term in use. For example, the definition of annual crops provides examples of specific plants that are considered annual crops. This helps to clarify the meaning of the term and make it easier to understand.

annoyance | annual report

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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