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TeachMeFinance.com - explain Ability to pay
Ability to pay --
in Finance - The ability on the part of a borrower to service long-term commitments through principal and interest payments made out of current revenues. Also termed ability to service.
in Industrial relations - The capacity of a manager or owner, in particular, a financial organization, to satisfy the financial claims of a union by drawing upon operating income.
in Municipal bonds - Ability, both current and future, of an issuer to make sufficient income in order to fulfill contractual responsibilities, due consideration being made of all the issues that relate to municipal revenues and property values.
in Taxation - The notion that the level of wealth or income should determine the tax rate as, for example, in the case of the progressive income tax.
About the author
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Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".
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Copyright © 2005 by Mark McCracken, All Rights Reserved.
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