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

Category: Finance

UPPER CONTROL LIMIT

Top limit in quality control that is higher than the average on the control chart. Opposite of lower limit.

USER FRIENDLY

Any equipment or application that is designed to be easily understood and easy to use.

VALIDATE

1. General. Making something effective and legal. 2. Accounting. Confirm or attest to a financial item. 3. Decision making. Establish a decisions worth.

VALUE ANALYSIS

1. Manufacturing. Analysis identifying and selecting alternatives with best value for materials, design, systems and processes. Also known as value engineering. 2. Purchasing. Replacing items with more cost effective items. Also known

VALUE JUDGMENT

Subjective assessment that something is good or bad, may or may not happen. Involve ethical, aesthetical, moral values that are not factual statements.

VALUED ENVIRONMENTAL ATTRIBUTE

Important part of an ecosystem, welfare of the environment, health of a person that cab at risk from behavior and natural events.

VENT FOR SURPLUS

Adam Smith theory proposing that greater economic resources are used in international trade than through national trade.

VERTICAL PORTAL

Web site serving as the point of entry to a niche market, area of interest or subject of interest. Also known as a mortal. See horizontal portal.

VIRTUAL COMMUNITY

Community dispersed geographically but connected via the web community and internet. Also known as online or web community.

VISUAL COMMUNICATION

1. Real estate. Property’s net worth perceived by the owner. 2. Expression of information and ideas using visual aids.

VOICEOVER

Phone system feature allowing the operator to get a message to an employee on the phone.

VOTING STOCK

Common shares give the owner the right to vote at the AGM. Also known as voting shares.

WALK

Hotel industry. Taking an arriving guest to another hotel as reserved accommodation is unavailable for a reason.

WARNING

Notice, admonition pointing out a danger to one unaware of any.

WATT (W)

Metric unit of power equal to 1/746 of horsepower or one joule per second.

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