PRORATES Meaning and
Definition
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Prorates, in a general sense, refers to the act of allocating or distributing something proportionately. It is a term commonly used in financial, accounting, and business contexts to describe the fair and proportional allocation of costs, expenses, revenues, or benefits among various parties or time periods.
In finance and accounting, prorating often involves dividing a specific amount or value in accordance with certain criteria such as time, usage, or contribution. For instance, when calculating rent for the period of occupancy, if a tenant moves in halfway through the month, the monthly rent may be prorated based on the number of days the tenant actually stayed in the property.
In business, prorates might also be used to distribute the costs of shared services or resources among different departments or projects, allocating expenses in a way that takes into account their respective usage or benefit. For instance, the costs of a company's human resources department may be prorated among different divisions based on their number of employees or payroll expenses.
Overall, prorates involve a fair and equitable distribution of costs, revenues, or benefits by considering relevant factors such as time, usage, or contribution. It ensures that parties receive or contribute their portion in a manner that reflects their specific circumstances or obligations.
Top Common Misspellings for PRORATES *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for PRORATES
Etymology of PRORATES
The word "prorates" is derived from the Latin word "prorata", which comes from the verb "pro" (meaning "forward" or "for") and the noun "rata" (meaning "rate" or "proportion"). When the verb form "prorates" is used, it means to allocate or distribute something proportionally.
Conjugate verb Prorates
CONDITIONAL
I
would prorate
we
would prorate
you
would prorate
he/she/it
would prorate
they
would prorate
FUTURE
I
will prorate
we
will prorate
you
will prorate
he/she/it
will prorate
they
will prorate
FUTURE PERFECT
I
will have prorated
we
will have prorated
you
will have prorated
he/she/it
will have prorated
they
will have prorated
PAST
I
prorated
we
prorated
you
prorated
he/she/it
prorated
they
prorated
PAST PERFECT
I
had prorated
we
had prorated
you
had prorated
he/she/it
had prorated
they
had prorated
PRESENT
I
prorate
we
prorate
you
prorate
he/she/it
prorates
they
prorate
PRESENT PERFECT
I
have prorated
we
have prorated
you
have prorated
he/she/it
has prorated
they
have prorated
I
am prorating
we
are prorating
you
are prorating
he/she/it
is prorating
they
are prorating
I
was prorating
we
were prorating
you
were prorating
he/she/it
was prorating
they
were prorating
I
will be prorating
we
will be prorating
you
will be prorating
he/she/it
will be prorating
they
will be prorating
I
have been prorating
we
have been prorating
you
have been prorating
he/she/it
has been prorating
they
have been prorating
I
had been prorating
we
had been prorating
you
had been prorating
he/she/it
had been prorating
they
had been prorating
I
will have been prorating
we
will have been prorating
you
will have been prorating
he/she/it
will have been prorating
they
will have been prorating
I
would have prorated
we
would have prorated
you
would have prorated
he/she/it
would have prorated
they
would have prorated
I
would be prorating
we
would be prorating
you
would be prorating
he/she/it
would be prorating
they
would be prorating
I
would have been prorating
we
would have been prorating
you
would have been prorating
he/she/it
would have been prorating
they
would have been prorating
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