Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: A

API GRAVITY

Its the scale used to show the lightness or heaviness of a crude product. Liquid hydrocarbons are also measured on this scale.

APPROPRIATION ACCOUNT

1. part of income that is how profits are used to pay debt or increase profit. It states the profit amount not how it got there. 2. an account held by government

ARCHITECT

A party that designs construction. Refer to information architect.

AROMATICS

A hydrocarbon taken fro petroleum products that release a sweet odor. The common ones are benzene tolune, and xlene. They are used for solvents, additives, and feedstocks.

ASBESTOS

A fiber that gets hard with age and pollutes the environment with its fine particles. It causes illness and cancer. It is in ceiling tiles, insulation, patching compounds, shingles, paint, flooring, and

ASSUMPTIONS

The cause and effect connection that is accepted. It is used in simulations. It can be dangerous if accepted without any real world proof. Refer to critical thinking and rule of thumb.

ATTITUDINAL DATA

Data that reflects how a customer affects products and services offered. Surveys are used for this. Refer to demographic data.

AUSTENITE

Any iron that has carbon or facecentered crystaline structures. It is named after Sir W. C. Roberts Austen. Refer to martensite.

AUTO SALES

When auto manufacturers make a report of the montly sales. It shows how well the market is doing and are seasonally adjusted. The stock market may use this to curb spending habits.

AVOIDABLE COST

To avoid a variable cost by taking a specific action. A fixed cost is not avoidable.

ADJUSTER

Also known as an adjustor, an employee of an insurance firm who examines a specific claim to determine the cost to the firm.

ADVERSE WITNESS

A witness who gives negative evidence against the party who called them as a witness. Refer to hostile witness.

AFTERMARKET

The second hand market for parts to maintain equipment. Some are very large. AKA replacement market or secondary market.

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