The term “lease” typically refers to a contractual agreement between a lessee (user) and a lessor (owner) which grants the former permission to use an asset owned by the latter. There are many different types of leases, including land leases, apartment leases, car leases, building leases, etc.

An interest rate is a fee collected or paid for the use of a lender’s money or goods. The amount of interest charged by a lender serves as compensation for the loss of an asset’s use. Essentially, interest is a rental fee charged to a borrower for use of an asset.

Early retirement refers to the process of retiring from work life at an age prior to the statutory retirement age. Employees who retire early, however, will typically receive fewer benefits than those who wait until the official retirement age to do so.


When it comes to standard accounting entries, the term “credit” refers to an entry that increases net income, for example. On company balance sheets, debits serve to increase assets when a company buys merchandise for resale, while credits increase the company’s liabilities.

The term “debit” is derived from the Latin word “debere”, or “to owe”, and is an accounting term that refers to entries that either increase assets or decrease liabilities on a balance sheet, or in a bank account.