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

Category: Finance

SHOULD-COST ESTIMATE

An approximate contract price that is developed by the customer’s engineering, accounting, procurement and costing staff.

SICK LEAVE

The number a days an emplyee has each year when he can stay off work and still be paid when he is too ill to go to work.

SIMILAR TO ME ERROR

A rating that is more than fair that is given to an employee or applicant due to their professional or personal similarity to the person interviewing or evaluating them.

SINGLE LIMIT

A term that refers to amount of coverage expressed as a single amount.

SINKHOLE COLLAPSE

A dangerous situation caused by the sudden collapse of a land mass into an empty space below it.

SIX SIGMA

Developed by Motorola in 1986. It is a business strategy used in many countries to improve its quality of services and products through the removal of errors and defects. 99.99966% of products

SKIP PAYMENT CLAUSE

A provision allowed in some mortgagaes where a payment can be missed or skipped as the payment has been made previuosly or there is enough money to cover the next payment.

SLOT

The small but specific time period when a commercial or ad is aired.

SMOG

The combination of smoke and fog. It now refers to the photochemical smog trapped at ground level by inversion layers in the atmosphere.

SOCIAL CAPITAL

The goodwill and trust that a company acquires from the community by understanding the concerns of citizens and addressing them.

SOCIAL LEARNING

A process where individuals can observe the behaviour in others and see its consequences and are able to modify their own behaviour accordingly.

SOCIAL STRUCTURE

The organisation of society that is based on patterns of interaction between parents, teachers and students, employees and employers that have been regulated by the accepted norms and vaues of a society.

SOFT FONT

A font that is not stored in the printer but comes with the document to be printed from the computer.

SOFTWARE RELIABILITY

The ability of a computer program has to perform its functions and operations in the systems environment without going into a failure situation.

SOLUBILITY

The amount of a substance, solute, that can be dissolved in a set volume of liquid, solvent. Expressed as moles per 100gms.

SOURCE PRINCIPLE

A rule in taxation where a state can tax any income derived from any sources that lie within the states boundary.

SPAN OF CONTROL

The number or persons that a manager has control over that varies with the type of work involved.

SPECIAL MEETING

A meeting of share holders called in order to discuss a specific matter that has ben stated in the meeting notice.

RATE MANUAL

The handbook or manual that contains all of the rates for coverage. This manual may contain other items including the guidelines to field underwriting, agent guidelines, and cash forfeiture values.

RATIO ANALYSIS

This important technique of financial analysis where quantities are converted into ratios for meaningful comparisons, with past ratios and ratios of other firms. Ratio analysis determines trends, strengths or weaknesses.

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