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- Qualified Domestic Relations Order (QDRO)
- A legal judgment, decree, or court order that gives a pension plan participant access to retirement certain assets which must be utilized to pay an ex-spouse or dependent children. QDRO is when a Texas State or other State Court allocates an interest in a qualified retirement plan to a former spouse via a qualified domestic relations order. The former spouse will usually be taxed on the retirement benefits when actually received, or in some cases the benefits can be rolled over into an IRS or another qualified retirement plan.
- Qualified Endorsement
- A signature on the back of a loan, mortgage, check, or other financial instrument transferring the amount an other party but that includes wording that limits the endorser's liability
- Qualified Opinion
- An Opinion which is the auditor’s opinion accompanying a financial statement which calls attention to the limitations in the audit or any exceptions the auditor has taken with the audit of the statements.
- Qualified Retirement Plan
- A retirement plan established by employers for their employees that meets the requirements of IRS under the Internal Revenue Code Section 401(a) or 403(a) and is eligible for certain tax considerations. The plan can provide for employer contributions, as in a pension, retirement or profit sharing plan, which can include employee contributions. Employers can usually deduct their plan contributions made for or on behalf of their eligible employees on the business's tax return as business expenses.
- Quarter
A three-month period on a financial calendar that goes to act as a basis for the reporting of income and earnings as well as the paying of dividends and in some cases taxes. Quarters are utilized by public companies to report their profit and loss results on a quarterly basis.
The following abbreviations are used for Quarter:
- Q1 - January, February, and March
- Q2 - April, May, and June
- Q3 - July, August, and September
- Q4 - October, November, December
- Question of Law
- A question to be interpreted or decided by a judge of a court of competent jurisdiction of matters concerning the interpretation or the particular application of a law or statute.
- Quitcliam deed
- A deed releasing all of a person's interest in a particular real property or piece of land. By accepting such a quit claim deed, the buyer assumes all the risks.
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