Category: Finance Dictionary

A deviation from design specifications during production resulting in a product’s defect, frailty or shortcoming.

Production run’s total cost increase or decrease for making one more item unit. Situational computation: When fixed costs have already been absorbed by the already produced items and only the direct, variable

Formulated 1890’s distribution theory. States that until its marginal product value, which is revenue or yield resulting from the input, equals the input’s cost, capital and/or labor input to production will continue

Monetary-derived total satisfaction difference due to monetary sum’s single unit change.

Interaction of demand and supply in the market generates the price signals that cause an ongoing and spontaneous coordination of separate economic activities of individuals engaged in a division of labor.

Stages of economic cycles, health of the economy, direction of interest rates, inflation, and stock-share prices factor into this timed shifting of money from one type of investment into another.

1. In Budgeting, this is a line-by-line budget review by a committee formed for the purpose of approval, disapproval, or modification. 2. In Distribution, this is the price increases at different stages,

Falling just short of outright fraud by giving a misleading impression of a firm’s financial position in the processing and presenting of the firm’s accounting data in this type of questionable manner.

Vicarious liability rule in agency law. A principal or employer is responsible and accountable for any negligent acts of the agent or employee. Even when the agent’s specific acts were unknown to

Purchasing, receiving, handling, storing, and delivering materials used in assembly or production processes all contribute to this type of cost.

A sector in decline or having slower growth than the overall economy. Contrast to a growth industry. Also known as sunset industry.

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.

This type of organization is hierarchical and bureaucratic. It is characterized by its (1) highly centralized authority, (2) formalized procedures and practices, and (3) specialized functions. Mechanistic organization are relatively easier and

Upon meeting the specified requirements, as a health professional this specific type of individual is accredited, licensed, and/or registered.

A solid begins to liquefy at this temperature.

if it occurs as the result of an accident, coverage usually extends to this specific type of psychological condition.

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

Scrutinizing each section and statement of a given piece of work with close analysis to remove or reduce any unnecessary element or operation. Intent is a means of improving towards the quickest

Disease cause or treatment from the products of, or the microorganism itself.