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Auditing Acronyms

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Q

QA - quick asset (a highly liquid asset, such as cash, or other assets, such as marketable securities, and notes receivable, that may be quickly converted into cash)

QA - quality assurance (a planned and systematic process which ensures that an item or product conforms to established technical requirements)

QAT - quality assurance testing (testing of the technical aspects of an application, such as programming code, to ensure conformity with established technical requirements)

QB - Qualified Buyers (individuals considered financially knowledgable enough to buy unregistered securities in a private placement, under SEC rules)

QC - quality control (process of assuring that the activities, services, equipment, and personnel operate within the accepted standards)

QCIC - Quality Control Inquiry Committee

QDS - Quote Dissemination System (NASDAQ)

QI - Quarterly Index

QPP - Quebec pension plan

QQQQ - Qubes (exchange-traded funds (ETFs) - securities representing mutual funds traded like stocks)

Q ratio - the ratio of a company's physical assets to their current replacement cost

QSSS - qualified subchapter S subsidiary

QSST - qualified subchapter S trust (a trust in which the grantor can place restrictions on the assets placed in trust)

QSub - qualified S corporation subsidiary (a 100%-owned subsidiary of an S-corporation if the stock is held by its shareholders rather than by another S corporation)

Q-system - fixed order size system (an inventory control system in which the order sizes are equal)

QTC - Quote Trade Comparison System (NASDAQ)

QTIP - Qualified Terminable Interest Property Trust (trust which directs income to be paid to a spouse for life, but retains the assets in the trust)

QUICS - Quarterly Income Capital Securities (hybrid preferred stock which pays quarterly dividends)

QUIDC - Quarterly Income Debt Securities (hybrid preferred stock, based on long-term debt, which pays quarterly dividends)

QUIPS - Quarterly Income Preferred Securities (hybrid preferred securities which pays dividends on a quarterly basis)