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

Category: Finance Dictionary

WITHOUT

When only a oneway quote is available for a security.

JOURNAL VOUCHER

Every financial transaction hat meets defined requirements has this prepared, written authorization.

JUNK FAX

Sending unsolicited stock ads by facsimile transmission (fax). Just like junk mail or spam, over the lines instead of by postal mail or electronic mail. A marketing strategy.

KAIZEN BUDGETING

A budgeting approach that includes product improvement costs. With the objective of reducing actual costs below standard costs, projected costs of improvement are already incorporated in the budget . Also refer to

KEY EMPLOYEE

Essential, main employee stakeholder in corporate operations. May be an officer with voting rights able to influence the company. Any employee owning company assets 5% or more of the total and/or receives

KEYNESIAN

Supporter of governmental economic intervention by public policies driving for full employment and price stability. A follower of John Maynard Keynes, a believer in his economic principles.

KINKED DEMAND CURVE

Standard demand curve with a bend depicting competitors decreasing prices to match another’s, yet not raising prices to match another’s. Concern is that raising prices lose customers, so that once a business

KNOWLEDGE CREATION

Defined by Ikujiro Nonaka, interactions between explicit and tacit knowledge form new ideas. Socialization (tacit to tacit), externalization (tacit to explicit), combination (explicit to explicit), and internalization (explicit to tacit) are the

LACONIC

To the point; using as few words as possible to form a point; straightforward.

LANDFILL GAS

Anaerobic decomposition of organic waste at landfill sites causes gases, like methane, to occur.

LATENT HEAT

Amount of heat needed to alter the a material’s state, from solid to liquid or liquid to gas, but without an increase in temperature.

LEACHING

Action of water soluble substances like calcium, fertilizers, or pesticides, dissolving in available water, typically rain, and washing out soil as a waste. Leached-out chemicals, known as leachites, are considered to be

LEADERSHIP DEVELOPMENT

Training an individual who may or may not use learned skills in a leadership position to be a leader. Teaching of how-to-lead qualities, communication, ability to motivate others, and management skills.

LEASE SCHEDULE

Lease attachment or annex formally added. Lists and describes the item leased, required lease payments, and other terms applicable to the lease. The lease terms and conditions are fixed per the master

LEGAL INJURY

Law provides specific remedy or damages for property damage, bodily harm, or violation of a right.

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