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

Category: Finance Dictionary

BACKGROUND CHECK

Reviewing a parties confidential and public information to investigate their history. This done during the hiring process to clear employees with a criminal history and confirm information given. The government uses them

BACKWARD CHAINING

Making a chart starting with the result and going backwards to make subprocesses. The goal is to create output at a specific level of quality.

BAPTISM BY FIRE

An event that means success or failure for a company or party. This is common for new companies.

BARRIERS TO COMMUNICATION

The issues that prevent communication in an office. Some of these barriers are status, gendre, cultural, prejucdices, and environment.

BEDROOM COMMUNITY

When a residential area is full of commuters. They work somewhere else and simply sleep at their homes.

BELOW PAR

A security that sells below par value. It is discounted. The face value is 100 and the discount is a factor of 100. AKA at a discount.

BENELUX

A union between Belgium, Netherlands, and Luxembourg. It was stared in 1948 to decrease imports and let labor and capital move between the countries. Its now a part of the European Union.

BESSEMER PROCESS

When air is pushed into a furance burning off impurities. It makes pig iron more pure. It is the old method of steal manufacturing.

BEST PRACTICABLE ENVIRONMENTAL OPTION (BPEO)

The UK practice of controlling pollution without penalties. The costs of pollution are covered by economic benefits. It allows more that would be standard emissions. AKA best practicable means.

BID DATE

A date and time a bid is to be submitted by. AKA bid time.

BILATERAL

Something that affects two parites. Refer bilateral contract, bilateral modification, bilateral monopoly, and bilateral rights.

BILLING

Making an invoice for sales recovery. AKA invoicing. Refer to billings.

BIO MONITORING

1. analyzing a sample of an organism to see if they were exposed to hazardous substances and how much. 2. using live animals to test pollution in an environment.

BLACK BOX TRADING

A trading system investors use as rules for selling and buying signals. The secrecy of this method is appealing to the investors.

BLACKOUT PERIOD

When a survivor stops getting their benefits and starts getting retirement benefits.

BLOCKBUSTER DRUG

A drug that is popular with sales of at least $1B. It can be profitable despite disadvantages. If a side effect is shown dangerous than money is lost. Eventually it will lose

BLUE OCEAN

When a market has a space for development. It was invented by Chan Kim and Renee Mauborgne.

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