Category: Finance

1. Accounting: The goods or services that was purchased. 2. Modeling: The modeling arhitecture’s portrayal of a real world situation through a representation. 3. Programming: A program that consists of data and

Items that are replaced due to their fall in value or functionality as a result of the availability of cheaper and better stock. They are cleared through the use of significant discounts

A breach of contract is possible if the principal requirements that is so integral to the contract is not fulfilled.

A strategy implemented by a company that intends to stay ahead of its competition, through investments in technology and research and development. This strategy is particularly useful when trying to change the

The value of the nation’s reserve holdings encompassing gold reserves, tradable foreign currencies and special drawing rights.

A mutual fund that is located in financial center that is located in another country, which is also referred to as offshore financial center (OFC)

A layer of crude or refined oil covering a large area of the soil or sea water caused by a leaking oil tanker.

Common term used in shipping documents, such as bills of lading. Its use is not standardized, but the term usually means that the goods have been “received for carriage”. This may or

A consumer who purchases only one product or service from a business. With the correct incentives, a one-time buyer may become a repeat customer.

1. The country in which you legally reside (and whose courts have jurisdiction over you). 2. On dry land, not at sea.

A bidding contest that concludes with the opening of sealed bids in a public forum, enabling all interested parties to witness the bids.

Open framework software enables programmers to easily remove and replace modules to create new apps.

A system that enables insurers to use rates not previously approved by the state.

Balance at the beginning of a new accounting period, brought forward from the previous period.

The impact upon continued operations caused by accidents and disasters.

Explicit permission to continue sending marketing information to an individual. Once this permission has been acquired, the individual must generally choose to opt out to stop receiving marketing materials.

On this date, payment is necessary for reservation purposes.

Statements that are given orally by an attorney, either in defense of a client or to rebut the opposing party?s statements.

Sale of assets without pressure to sell as quickly as possible or to accept whatever offers are made. See FORCED SALE.

Company resolution that involves unexceptional company business and requires only a simple majority vote to be passed, without prior notification of the proposal.