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

Category: Finance

WORK

1. Contracts. Project’s scope encompassing everything needed to finish the project. 2. Intellectual property. Expressing the human mind in language, images, sounds, signs, symbols and media.

WORKFORCE

1. Total of all people looking for work, working in Armed Forces and other jobs. 2. Number an employer has on the payroll.

WORLD CLASS

The best quality goods, services and processes as ranked by experts and customers.

YARD LUMBER

Run of mill lumber in various finishes, widths and lengths.

ZIP CODE

Code established by US Postal service to indicate each location. Has since been made 9 digits allowing more accurate identification of a location. Stands for Zoning Improvement Plan.

UNIFORM SIMULTANEOUS DEATH ACT

Law detailing how to proceed when both the beneficiary and the insured died in an accident and it can’t be determined who died first.

UNIT CONTROL SYSTEM

System of inventory control where items are tracked with bin tickets and a physical inspection.

UNITED NATIONS

International organization made up of independent countries that together encourage peace and diplomacy between other countries. Maintains treaty obligations and countries in the UN follow international laws.

UNLEVERAGED

When the company uses funds from the company to buy investments so as not to borrow from other sources.

UPPER EXPLOSIVE LIMIT (UEL)

Highest concentration of a vapor or gas in air that is able to be ignited by an ignition source. Higher concentrations are ‘too rich’ to burn. Also known as upper flammable limit.

UPWARD COMPATIBILITY

Feature of new software and hardware letting it work with more powerful versions of software and hardware. See downward compatibility.

USER ID

User Identification Device. Unique name given to the user of a database etc.

VALIDATION

1. Assessing an action to determine it is complete, correct, implemented and delivering the correct outcome.2. Assessment of the degree that an instrument will measure accurately; technique opt test used to predict

VALUE AT RISK (VAR)

Largest loss to be possibly suffered to a portfolio over a period of time, say 10 days of a given level of probability.

VALUE LINE COMPOSITE INDEX

Index of 1700 stocks traded on NASDAQ, AMEX and NYSE stock markets. Stocks are raked on projected price performance and volatility of behavior.

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