What Is a Designated Roth Account? A designated Roth account is a separate account in a 401(k), 403(b), or governmental 457(b) that holds designated Roth contributions. Designated Roth contributions are elective deferrals that the participant elects to include in gross income. Key Takeaways A designated Roth account is a separate account in a 401(k), 403(b)
What Is a Design Patent? A design patent is a form of legal protection of the unique visual qualities of a manufactured item. A design patent may be granted if the product has a distinct configuration, distinct surface ornamentation or both. In other words, a design patent provides protection for the ornamental design of something that
What Is Detection Risk? Detection risk is the chance that an auditor will fail to find material misstatements that exist in an entity’s financial statements. These misstatements may be due to either fraud or error. Auditors make use of audit procedures to detect these misstatements. However, because of the nature of audit procedures, some detection risk
What Is a Detective Control? Detective control is an accounting term that refers to a type of internal control intended to find problems within a company’s processes once they have occurred. Detective controls may be employed in accordance with many different goals, such as quality control, fraud prevention, and legal compliance. One example of a
What Is Demolition Insurance? Demolition insurance is insurance for property owners that is used to cover the costs of demolishing a building that is damaged by a peril, such as a fire or a storm. Zoning requirements or building codes may require that a damaged building be demolished rather than repaired. It may even be
What Is Demonetization? Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change in national currency. The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces
What Is Demurrage? In finance, the term “demurrage” has two main meanings. Its first meaning is in relation to currencies and commodities, where it refers to the costs of holding those assets. In this sense, it is analogous to the term carrying costs. An alternate meaning relates to the shipment of goods by sea. In
What Is Denationalization? Denationalization, which is a form of privatization, occurs when a national government sells an asset or operation such as a large government-owned firm to private investors. Key Takeaways Denationalization describes the process by which a piece of property, project, or business goes from being owned by a national government to being privately
What Is a Denomination? A denomination refers to the units classification for the stated or face value of financial instruments such as currency notes or coins, as well as for securities, bonds, and other investments. The denomination can therefore be used to quote the base currency in a forex transaction, or the quoted currency in a financial
What Is De Novo Judicial Review? De novo judicial review describes a review of a lower court ruling by a federal appellate court. De novo judicial review is used in questions of how the law was applied or interpreted. It is a nondeferential standard of review, so it doesn’t place any weight on previous court
