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

Category: Finance

PATERNALISM

A style of leadership in which any male leader makes use of his superlative powers to maintain control. Or, it could also mean acting similarly to a father, to protect children from

PAY PER CLICK (PPC)

A model used commonly by search engines, in which advertisers will only have to pay if they get clicks from other sources after users click on them.

PAYER BANK

Known as a payor bank, any bank which can draw or accept a bill of exchange is a payer bank.

PAYROLL

The total amount of money that a company needs to pay its employees. Also in the form of a paysheet, which calculates all deductions and net payments.

PER CAPITA INCOME

The total income of the country, divided by the total popluation of the country. It is not the average income but provides a clear indicator of the living standards of the country.

PERCENTILE

Any number that is used to determine the percentage position with a number of data samples. For instance, if the performance of an employee is at the 57th percentile, then his performance

PERILS OF THE SEA

Dangers that might be associated with sea travel. Usually involves high winds, two ships colliding, hitting a submerged object, etc.

PERIPHERAL DEVICE

Any device that can be connected to the computer for input, output or communication functions. Examples include printer, scanner, keyboard, mouse, etc.

PERMANENT PARTIAL DISABILITY

A partial disability that will affect the insured forever. Since it is partial, the insured is not completely incapacitated.

PERSONA NON GRATA

A person who is rejected by those whose acceptance is required in a scenario.

PERSONAL SPENDING

The amount of money spent by an individual on his or her own self. Personal spending covers shopping expenditure, car payables, as well as medical bills.

PESTICIDE TOLERANCE

The total amount of pesticide residue that can be allowed to remain within a crop, that will be harvested. Secondly, it might also mean the ability gained by a pest which has

PHASED RETIREMENT

A retirement procedure in which older working employees are gradually led to retirement. The process is such that the working hours are reduced gradually over a period of time, until finally a

PHOTOSHOP

A software developed by Adobe Systems Inc. used primarily for editing photos. It contains a variety of filters and effects, as well as tools which can be used to manipulate a picture

PICKLING

A cleaning method used for removing the dirt off metals. Generally, a powerful acit is used at 80 degrees Centigrade, in order to to remove rust, dirt, or oil.

PIGOVIAN TAX

A method used for fixing the consequences for a certain group or society, or to fix the negative externalities of any company or industrial sector. Extra taxes are levied on the companies,

PLACE OF BUSINESS

The location where a business is actually located; where most of the business activities, as well as their records are kept.

PLANT-WIDE OVERHEAD RATE

An estimation which depicts the amount of money it will take to manufacture a certain item within a certain department of the company.

PLUG COMPATIBLE

Any piece of hardware that is compatible with a certain kind of outlet, or socket without any modification.

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