Wash Sale - Sale of SECURITIES in which seller has acquired substantially identical securities within a period beginning 30 days before and ending 30 days after the date of the sale.

Withholding - Amount withheld or deducted from employee salaries by the employer and paid by the employer, for the employee, to the proper authority.

Working Capital - Excess of CURRENT ASSETS over CURRENT LIABILITIES.

Working Papers - (1) Records kept by the AUDITOR of the procedures applied, the tests performed, the information obtained, and the pertinent conclusions reached in the course of the AUDIT. (2) Any records developed by a CERTIFIED PUBLIC ACCOUNTANT (CPA) during an audit.

Work in Progress - INVENTORY account consisting of partially completed goods awaiting completion and transfer to finished inventory.

Wrap-Around Mortgage - Second MORTGAGE which conveniently expands the total amount of borrowing by the mortgagor without disturbing the original mortgage.