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

Category: Finance

WORKFLOW

Steps comprising a work process where 2 or more people add or create value to activities of an organization.

WORLD BANK

Popular name for International Bank for Reconstruction and Development. See World Bank System.

YAHOO!

Online website portal with a large array of information from entertainment to news and finance.

ZERO-PROOF BOOKKEEPING

Used in small businesses and by individuals. Method of bookkeeping with a zero balance at end of the accounting period.

WRITER

1. General. Bill of exchange drawer. 2. Insurance. Underwriter. 3. Options trading. Option contract seller. Also known as option seller.

UNIFORM SIMULTANEOUS DEATH ACT

Law detailing how to proceed when both the beneficiary and the insured died in an accident and it can’t be determined who died first.

UNIT CONTROL SYSTEM

System of inventory control where items are tracked with bin tickets and a physical inspection.

UNITED NATIONS

International organization made up of independent countries that together encourage peace and diplomacy between other countries. Maintains treaty obligations and countries in the UN follow international laws.

UNLEVERAGED

When the company uses funds from the company to buy investments so as not to borrow from other sources.

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.

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