Legal Articles

Several related subplans incorporated together to make one master plan.

Product production’s monetary investment. Things that incur material costs, for example, are the ingredients of a meal or the parts of a machine. The cost of labor to produce the product is separate from this cost. The total cost of a product and its eventual sale price are arrived at by combining the material cost with the cost of labor.

In a manufacturing operation this is material’s standard cost minus material used actual cost. A company calculates that the materials needed to manufacture one of its products costs $5, as an example. The actual cost during a certain period is $6. The company discovers that The materials quantity variance is $1 times the number of units manufactured.

One that is functioning without change or innovation or has no growth.

With no regard to cost or expense this is choosing the path with the best or highest expected outcome. By contrast, optimization is selecting the most cost-effective alternative. Also refer to satisficing.

Board feet of lumber symbol for one thousand, not 1 million. One MBF equals 2.36 cubic meters or 83.33 cubic feet. Also refer to MCF.

slight price or volume upticks or downticks causing errors in determining the asset’s value. This type of noise is a short-term phenomenon. Also known as observational noise.

Newspapers, radio stations, television stations, and the like used in reaching intended audience as this type of specific medium.

Conducted by a doctor acting as the insured’s agent, a prospective insured receives this type of physical evaluation.

Medicare supplemental insurance coverage cannot duplicate the benefits provided to the insured by Medicare, but often times the insured’s deductibles or copayments will be paid.

No total increase or decrease occurs from this specific type of balance sheet transaction. Stock splits are a typical use.

Agent who a principal authorizes to purchase and liquidate assets, and to raise funds by using the principal’s assets as loan collateral. Also refer to commercial agent.

Electronic commerce through services associated with this specifically configured type of dedicated computer.

Lungs and stomach lining disease caused by inhaling or ingesting asbestos fibers is this specific type of cancer. Also refer to asbestosis.

Broad principles or rules in this specific type of system. Used to guide a user to the specific methods or procedures needed to derive, interpret, or solve different problems within the scope of a particular discipline. A methodology is a set of practices. Contrast to an algorithm, a formula.

Making food unfit for consumption by Clostridium botulinum inclusion in an item used as food, or growth of other harmful microorganisms.

Film type of media. Microform of 4 x 6 inch or 105 x 148 millimeters. Typically contains a grid pattern equivalent to seven pages of text as several microimages. Is read by a microfilm reader. Also known as fiche.

Multiplan was the first software program similar to Excel, released in 1982. Software developed and manufactured by Microsoft (MS) Corporation developed and sells Excel. It is a widely used user tool to organize, format, and calculate data with formulas, using a spreadsheet format matrixed into rows and columns. MS-Excel comes bundled with MS- Office, compatible with the suite of products.

Contract terms negotiations occurring while the contract is in force, rather than waiting until the contract needs to be renewed or re-initiated. Only new issues or issues not in the in-force contract can be negotiated mid-term based on restrictions by most union contracts.

For large volumes of water, this specific unit of measure is used. It is equal to about 810,767 acre-feet, one cubic kilometer, or one billion (109) cubic meters.