Legal Articles

UNIVERSAL PRODUCT CODE (UPC)

Barcode of 12 digits assigned to every product sold at a retail store.

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UNLIMITED TAX BOND

Municipal bond backed by raising taxes to repay the debt.

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UNPROFITABLE

Generation of an overall loss or of negative income.

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UNSECURED CREDIT

Credit that is extended on the borrowers promise to pay. There is no collateral kept as security.

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UNSUBSIDIZED LOAN

Loan where interest as added as soon as the money is given to the borrower.

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UPSIDE POTENTIAL

Difference in current trading price of a security and the level it is likely to rise up to.

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USA PATRIOT ACT

Act passed after September 11 2001 giving law enforcement agencies tool to prevent acts of terror.

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USER INTERFACE

Visual portion of the computer application that the user uses to interact with software. See interface.

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VACANCY RATE

Percept of all units that can be occupied but are not currently occupied.

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VALUE ADDED ACTIVITY

Generating a positive return on resource investment that can’t be stopped without process impairment.

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VALUE CHAIN

Activities adding value that are linked and convert input to output and add to the bottom line.

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VALUE OF MARGINAL PRODUCT (VMP)

Marginal output of an input times the unit price of output.

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VANDALISM

Mindless and malicious harm and injury to another’s property.

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VARIABLE LIFE INSURANCE

insurance with fixes premiums, minimum guaranteed death benefit providing return that is based on portfolio performance.

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VARIANCE ACCOUNTING

Reporting and recording financial results and comparing them with standard budget quantities.

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VENDOR’S LIEN

In contracts for land sales, vendor ‘s lien is equitable until full price of land is paid.

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VERTICAL MANAGEMENT

Organizational structure where information passes from top levels of management down through the lower levels and little is passed back up. Also known as top down management.

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VESTED LIABILITY

A non-forfeitable value of retirement benefits.

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VICKREY AUCTION

Sealed auction bid where successful bidder pays second top price. Also known as second bid auction, second price auction.

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VIRTUAL INTEGRATION

Term describing use of the internet to replace the physical components of a company with information.

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