_Liquidation_--The closing-out of a business or an estate. _Loss and Gain_--The amount of profits or losses of a business. _Maker_--One who signs a note. _Manifest_--A list or schedule of the articles in a ship's cargo, or of the goods comprising a shipment. [Illustration: Order] _Maturity_--The time when an obligation or an account is due. _Mercantile Agency_--A company which obtains and keeps for the use of its customers information showing the standing of business firms. _Merchandise_--The stock in trade, or goods bought to be sold again. _Money Order_--An order instructing a third party to pay money to the person named. A form in which money is transmitted. _Monopoly_--The exclusive control of the manufacture or sale of an article. _Mortgage_--A temporary transfer of title to land, goods, or chattels to secure payment of a debt. _Mortgagor_--One who gives a mortgage. The one to whom the mortgage is given is the _mortgagee_. _Negotiable_--An agreement or any commercial paper which can be transferred by delivery or endorsement--as a bank note or promissory note. _Net_--Less all charges or deductions. _Gross_ assets less liabilities leaves _net_ capital; _gross_ income less all expenses leaves _net_ profit; etc. _Nominal_--Having no actual existence; exists in name only. _Obligation_--Indebtedness. _Open Account_--An account which has not been paid. _Opening Entries_--The entries made in the books when it is desired to open the accounts of a business. _Option_--The right to be the first purchaser; a privilege. _Orders_--Requests for the shipment of goods. _Original Entry_--The first record made of a charge or credit which becomes the basis of proof of the account. _Overdraw_--To draw a check for a greater amount than the drawer has on deposit in a bank. _Par_--Face value. _Partnership_--A firm; a union of two or more persons for the transaction of business or the ownership of property. _Payee_--The one to whom money is to be paid. The one who pays the money is the _payer_. _Per Annum_--By the year. _Per Cent_ or _Per Centum_--By the hundred. _Per Diem_--By the day. _Personal Account_--Any account with an individual, firm, or corporation. _Personal Property_--All property other than real estate. _Petty Cash_--A term used to signify small expenditures in actual cash. _Postdate_--To date ahead; after the real date. _Post_--To transfer amounts from books of entry to the ledger, which is the book of final record. _Power of Attorney_--Authority to act for and in the name of another in business transactions. _Preferred Stock_--Stock which participates in the profits before any dividend can be paid on the common or ordinary stock. _Premium_--The amount paid above par value; the amount paid to an insurance company for insurance against loss. _Present Worth_--The net capital of an individual. _Proceeds_--The amount realized from a sale of property. _Profit and Loss_--Synonymous with loss and gain.