Category: Finance

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

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

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

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.

A non-forfeitable value of retirement benefits.

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

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

1. A parasitic and infectious microorganism smaller than a bacterium. Incapable of independent metabolic activity. Needs to invade a living organism to derive energy to survive. 2. See computer virus.

Provision, clause or term impairing a contract or making it void or voidable.

Cheese made null and void for any reason.

Free exchange of services and goods between sellers and buyers in a market place.

Internal system of financial control for payments and cash relying on vouchers to establish transactions, amounts paid, ledger name where it will be recorded.