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

Category: Finance Dictionary

LINE ITEM BUDGET

A budget with grouped cost centers or departments as individual financial statement items. Current and future period estimated figures is compared to past accounting or budgeting period financial data.

LINEAR REGRESSION

Mathematical technique that uses scatter graph data points to find the best fit of a straight line as a linear function. Reason for this effort is to project future function values. Extending

LIQUIDATION PERIOD

The time when a company sell of a portfolio or asset to compensate for risk. Refer to holding period.

LITERARY WORK

Written words, numbers, or symbols in any medium, but not audio visually, expresses an intellectual content.

LOAD SHEDDING

Energy utilities’ demand reduction method. Demand is load. Different geographical areas have their energy generation temporarily switched off.

LOCKED MARKET

Where bid price equals the asked price as a temporary situation.

LOGISTICS CHAIN

In a particular environment or industry, these are all successive steps comprising a logistic process.

LONG ARM STATUTE

The jurisdiction of foreign courts is extend to local territory, usually on a reciprocal basis for specific types of cases, by this local law.

LOOPHOLE

Without violating its literal interpretation, an allowed legal interpretation or practice unintentionally ambiguous due to a textual exception, omission, or technical defect, evades or frustrates the intent of a contract, law, or

LOSS EQUITY PUT

When new equity is issued after a trigger event. It is a contingency measure.

LOSS OF USE

Lost capacity of one’s body part or entity’s property due to another party’s negligence or wrongdoing causing the lost capacity. Compensation throughout the lost-capacity duration is typical. This is a legal term.

LOT AND BLOCK

Land parcel identification and location method. A unique combination number of lot-and-block is assigned to a land parcel, distinguishing it from surrounding parcels. Also refer to Recorded Plat Survey System.

LOWER QUARTILE

Portion of data, separated into four equal parts, representing the divided set’s lowest value.

LUXURY CLASS

A level above travel class. Most pricey accommodations.

MACHINE SCANNING

An optical device reads printed materials and transfer into digital format as electronic data input. Optical character recognition (OCR) technology is used.

MAGNETIC STRIPE READER

Device for reading information by required contact with a magnetic stripe card. The card must pass through a slot, or swipe, to read stored information. Also known as card swipe machine or

MAINTENANCE STRATEGY

Making ongoing but limited investments in its marketing aimed at maintaining the current market share of a brand or product, specifically in stagnant or low growth markets, as a planned support approach.

MAKE-UP AIR

Ventilating equipment to heat or cool circulates purchased fresh outside air throughout a building.

MANAGEMENT BUY IN

Outside investors’ purchase of a firm, retaining existing management, but make the board of directors their representative. Believing the firm’s products will generate greater future yields with strategic changes and/or capital infusion

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