adjustment

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Adjustment

1. A tax deduction taken on a loss, especially on bad debt or accounts receivable that will likely not be collected. One is not liable for income that is not actually realized.

2. In insurance, a payment on a claim. For example, if one has homeowner's insurance and his/her house floods, he/she is entitled to an adjustment, so long as the insurance covers flooding. Arriving at the amount of the adjustment is a complex process and insurance companies employ full-time adjusters to investigate claims and determine what amount, if any, the adjustment should be.

3. In an adjustable-rate mortgage, a change in the interest rate paid on the mortgage. The adjustment may be upward or downward. See also: Adjustment frequency.
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adjustment

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.