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

Category: Finance

TOOL

An implement or item that is used for a set purpose.

TOXIC DOSE

Quantity where a substance will produce a harmful effect. See toxic concentration.

TRADING BLOC

Group of countries engaging in international trade together and are normally in a free trade agreement .

TRADING UP

1. Increasing number of product features, quality improvements, increasing support services to justify a higher price. Trading down is the opposite. 2. Selling type where a customer can be persuaded to buy

TRAINING FIDELITY

Extent where skills and attitudes are acquired in a training program and can be transferred to the working environment.

TRANSISTOR

Small solid state semi-conductor that regulates flow of electric current.

TRANSLATOR

Processor of programming language converting a computer program from one language to another.

TREE DIAGRAM

Graphic tool that breaks down components and then maps them all out creating a diagram looking like a tree growing.

TRUNCATION

1. Accounting. Leaving off digits that lie to right of a decimal point. 2. Banking. Shortening processing time of cheques. 3. Computing. Cutting off the last string number as it is too

TURNDOWN SERVICE

Hotel room service where a room is freshened up and beds are turned down when guests are away from the room.

TWO TIER WAGE SYSTEM

Pay structure where wages paid to senior workers is different to wages for new workers.

TYPES OF COMPLEXITY

Types of complex situations (1) Apparent complexity, (2) Detail complexity, (3) Dynamic complexity, (4) Inherent complexity.

ULTIMATE LOAD

Load of the absolute maximum a structure can bear without it failing.

UNCLEARED EFFECTS

Drafts and cheques deposited by a customer but have not been cleared or paid by the writer of the cheque, or money is not in depositor’s account yet. Also known as uncollected

UNDERLOADING

Situation where a plant or machine runs at less than its full capacity in order to accommodate production rate or time for processing.

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