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

Category: Finance

PERIODIC LIFO

Using the base as LIFO, this is an assessment that is set on current costs which are associated with the stock which was last produced, and then allocating the costs to inventory

PERMANENT DISABILITY

Any disability, or impairment, or loss of a person’s physical or mental senses, on a permanent level. Prevents a person from functioning normally.

PERMEANCE

The opposite of permeability, or a trait which prevents liquids from passing through the material.

PERSONAL INFORMATION

Any part of information that is recorded about an individual person. Includes the name, email, address, ethnicity, race, identifying number, employment history, etc.

PERSONNELIST

A colloquial name given to any person who administrates the field of personnel management.

PETTY CASH

A little cash that a person keeps with himself, for making cash payments miscellaneously.

PHILATELY

A method of collection and analysis of various different postage stamps, which are used by post offices. It is a hobby for most people, as they can be used to trace the

PHYSICAL HAZARD

Any physica danger that might be caused to a third party material. For instance, fire is a physical hazard.

PIG IRON

Metal that has not been properly processed, is in a half- finished state, and has been brought out from the blast furnace. Pig iron contains 92 perecent iron, has significantly high amounts

PIPELINE ALIGNMENT

To meet the requireents of any project, by providing the required number of resources.

PLAIN OLD TELEPHONE SERVICE (POTS)

The standard landline used to provide telephone services. Makes use of a twisted pair copper wire. Common otions include outgoing calls, incoming calls, call waiting, call forwarding, IDSN, caller ID and the

PLATFORM PRODUCT

Any piece of equipment or appliance, whose primary design features are used in various other products of a certain family or products.

POINT AND CLICK

A feature common in graphical user interfaces, allowing people to view an ainmation after clicking a certain point on the screen.

POINT TO POINT (PTP) CIRCUIT

A connection made with telephone lines with only two ending points. A PTP circuit creates a direct link between two defined locations. It is primarily set for one customer, and a fixed

POLLUTION LIABILITY COVERAGE FORM

A commercially issued form, which is used to provide coverage for any clean up costs that might be incurred by a corporation regarding its pollution excretion.

POPULATION DENSITY

An estimation of the total land usage of a certain area. For instnace, the density of the population of an area can be expressed as the number of people living per square

PORTFOLIO LOANS

Any loan that is considered to be an asset by a financial organization.

POSITIVE EXTERNALITY

When a third party realizes a benefit, gained with no direct involvement and primarily through the transactions of another party, it is known as positive externality.

POSTNUPTIAL AGREEMENT

An agreement formed between a married couple, generally to provide specification regarding the division of assets in case the couple get separated or divorced.

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