T-account The basic device of double-entry bookkeeping and modern accounting. All debits are listed on one side, all credits on the other. They equal one another if the books are properly kept.

Tangible Something that is real. Literally, tangible means that the thing is such that you can touch it, but the meaning for business is something that can be seen and evaluated. Does not therefore include goodwill.

Target market The specific individuals, distinguished by socioeconomic, demographic, and/or interest characteristics, who are the most likely potential customers for the goods and/or services of a business.

Tariffs Foreign government taxes levied on exports.

Term (debt) loan A loan, generally obtained from a financial institution, which matures within a specified period beyond one year.

Terms of sale The conditions concerning payment for a purchase.

Trade credit The credit terms offered by suppliers (no interest is charged until after the due date).

Trademark A name, symbol or other mark that identifies a product to customers, and is legally owned by its manufacturer or inventor.

Trading houses Companies specializing in the exporting, importing, and third-country trading in goods and services produced by others and which provide related export services. They may act on a merchant or agent basis.

Trend analysis Analysis of a business’s financial ratios over a period of time, in order to determine whether its financial situation has improved or deteriorated.

Trial balance The result of adding all credits and all debits to see if the two sums are equal. A device used to check the accuracy of a company’s books.

Turnkey operation A project such as setting up a business or an office in which all work is done by a contractor and handed over in working order to the owner.

Turnover The number of times a year that a product is sold and reordered.

T-account The basic device of double-entry bookkeeping and modern accounting. All debits are listed on one side, all credits on the other. They equal one another if the books are properly kept.

Tangible Something that is real. Literally, tangible means that the thing is such that you can touch it, but the meaning for business is something that can be seen and evaluated. Does not therefore include goodwill.