Paid-up Capital: That part of issued capital for which settlement has been received.

Par Value: A value printed on the face of the security certificate.

Part XI: Capital Cost Allowance schedule for an Income Tax Return that depreciates assets by asset class groups.

Participating Stock: A class of preferred capital stock that, in addition to providing a dividend at a fixed or determinable annual rate, participated with common stock in the distribution of profits and sometimes in the residual distribution at liquidation of company.

Periodic Inventory Method: An inventory accounting system that requires a physical count of inventory to determine the final amounts of raw materials, work in process, and finished goods, and hence also the cost of goods sold.

Perpetual Inventory Method: An inventory accounting system whereby a continuous record is kept that tracks raw material, work in progress, finished goods and cost of goods sold on a day-to-day basis.

Preferred Stock: A class of capital stock with special rights or restrictions, as compared with other classes of stock of the same company. The preference will generally relate to the distribution of dividends at a fixed or determinable annual rate, with or without priority for return of capital on liquidation. The restrictions generally apply to voting rights.

Prepaid Expenses: The unused total at the statement date of any item paid for in advance (insurance premiums, fall applied fertilizer).

Principal Payments: The current portion of long-term debt from the opening balance sheet. (The principal payment for the year ending December 31, 1998 would be the current portion of long-term debt that appeared on the balance sheet dated December 31, 1997 as that is the amount of principal that was scheduled to be paid in the year ending December