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

Category: Finance Dictionary

FREE PORT

Imported merchandise may be stored duty-free pending re-export or duty-paid entry into the importing country in this free-trade zone around a port area. Examples are Hong Kong, Isla Margarita, Panama, and Singapore.

FREEDOM OF CONTRACT

Able to enter into whatever type of legally binding agreement one wishes with no legal limitations other than being of legal age to do so.

FREEZE OUT

Leaving specific people or members out of decisions, or unable to make progress on work, or away from worthwhile information. Typically done by controlling or majority members of an organization against the

FREQUENCY DISTRIBUTION

Number of occurrences a value or series of values repeat in a dataset. Step-column charts or histograms, or a line chart or histograph is used to plot the distribution. An example is

FRIENDSTER

Launched in 2002. The predecessor to similar sites MySpace and Facebook. Social networking website whose popularity has declined due to competition. Intended to have worldwide individuals become friends through social, online communication

FRONT LOADED LEASE

Equipment or property lease time-bound with rental payments higher for the starting periods, but decreasing as the lease period winds down.

FUEL OIL

Residential, industrial, transportation energy source as a residual refinery product. Various types are classified by their specific gravity. The higher the specific gravity, the higher the category number. Heat energy in residences

FULL DISCLOSURE

1. In Accounting, this is the practice of disclosing all material facts truthfully and completely to avoid any misunderstanding. 2. In Patenting, this is the disclosure of all material facts to avoid

FULL SERVICE RESTAURANT

Provides complete and varied breakfast, lunch, and dinner menus, along with a wide selection of foods and beverages, and table service.

FUNCTIONAL ISOLATION

Ability to separate components or parts of a circuit or system. Intent is to protect as much of the associated circuit or system from a failure or malfunction in another associated or

FUNDING OPERATIONS

Transferring to long-term, fixed-interest debt, like bonds from short-term or floating interest investment vehicles.

FUTURE VALUE

Calculated future value of a current investment’s value using compounded, projected interest values. Or, calculated future value of a current investment’s value using discounts at projected discount rates.

GAIN ON SALE OF AUTOMOBILE

Value increase recorded when the value of the vehicle sold was less than the vehicle worth at current valued. As an example, a gain of $500 posts to the balance sheet when

GAP

Unfilled difference. In project planning and scheduling, resources needed unmet by resources available cause a gap.

GASOHOL

Mixture of nine parts of unleaded gasoline by volume with one part of ethanol, ethyl alcohol. Ethanol source is fermented agricultural produce, typically corn. ‘Gasohol’ is a registered trademark of the Nebraska

GENDER

Defined difference between men and women based on culturally and socially constructed mores, politics, and affairs. Time and location give rise to a variety of local definitions. Contrasts to what is defined

GENERAL CARGO RATE

Transport cargo rate charged by a carrier. Although discounted special class fee or a commodity fee from the carrier may be available, this cargo does not qualify.

GENERAL LEDGER

Provides financial statements data for the entire organization. Summarizes all financial transactions recorded and sorted in subsidiary ledgers covering an accounting period. Central repository of an organization’s accounting information. Known also as

GENERATION Y

Born during the 1980s and early 1990s, this group of people’s name is based on the generation that preceded them, Generation X.

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