Category: Finance

Fundamental principle of most modern economies whereby a nation’s wealth is channeled, from those who have more to those below a certain income level, through taxes that pay for welfare.

Also called working copy or convenience copy. This is a duplicate copy of an official record but not the record copy created for ease of access and use.

This term refers to the intentional acceleration of economic activity by a government, usually by using inflationary and public spending measures, to reverse deflationary trends.

This is an office that is located in a geographic location of the area where business is handled. Also known as a branch office.

A particular type of connection existing between people related to or having dealings with each other.

1. The ability of a machine or appratus to perform a specific task. 2. The process of converting raw materials, components, or parts into finished goods that meet a customer’s expectations or

the act of removing or state of being removed

An amount of money set aside because building components or equipment will wear out in a relatively short time and need to be replaced.Replacement reserves can be a mere accounting entry as

The time between inventory replenishments.

The payment that continues to be received after the services or goods have been provided. An example would be music on a movie sound track that was previously released.

1. A reaction to an event or situation aimed at controlling it.2. Behaviour resulting from stimuli. 3. Answers to the plaintiff’s allegations.

The study of selected retail outlets providing a service based on subscription to market research firms. They will gather information ona brand’s volume of sales, trends in sales, levels of stock and

A rating system where an employerpays a part of an employee’s cost for any health care.

The amount of money given back to the insured when a policy is cancelled or the rate is adjusted or the premiums have been over paid.

The evaluation of the behaviour of management and the employees effectiveness.

A short term adverse effect of health that is reversed with time and the removal of the cause.

Developed by Microsoft it is a standard that is compatible with all word processors and allows exchange of digital documents.

A person from the insurer who screens all new applications and will approve or decline an application.

A priority in risk management by the etsablishment of quantitative or qualitative relationships gthat exist between risks and benefits.

Statement of the kind of risks and the extent to which a company will expose it self to risks.