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

Category: Finance

TWO STEP FLOW MODEL

Marketing strategy where messages that are not personal are first sent to the opinion leader then passed to the consumer.

UNABSORBED OVERHEAD

Indirect cost that can’t be spread to a few customers but must be spread over all customers according to a measure of volume.

UNCERTAINTY AVOIDANCE

Accepting assumed explanations or causes as facts to escape discomfort are associated with uncertainty or ambiguity.

UNDERINSURED

Person without adequate cover for a loss or a damage or who cannot meet a requirement of co-insurance.

TAX LIABILITY

Tax payer incurred debt to the government. Short term liability.

TEAR SHEET

Magazine or newspaper ad that is removed and sent to the advertiser as proof of being in the paper or magazine.

TECHNOLOGY COST

Expenses associated with the development, acquisition, implementation, deployment, maintenance of assets of technology that includes depreciation and amortization.

TELNET

Terminal emulation protocol enabling internet users to log onto a remote network or computer and use it like it is under the user’s control.

TENDER CONDITIONS

Rules and terms specific to a tender, submission, evaluation and awarding of the contract.

TERMS OF TRADE

Quantity of imports a country can buy from proceeds of selling services and goods of a set quantity.

TEXAS RATIO

Gerard Cassidy and a team from RBC Capital Markets developed this ratio to assess credit issues from banking institutions.

THEORY X AND THEORY Y

2 sets of assumptions by managers about employees and which can be self-fulfilling prophecies. Theory X assumes that (1) people won’t like work and will avoid if possible and (2) they need

THIRD SECTOR

Non-profit or voluntary economy sector serving as ‘an intermediary space between business and government where private energy can be deployed for public good’ as stated by Jim Joseph. Also known as tertiary

THROUGHPUT

1. General. Productivity of a process, machine, procedure or system over a period of time and is expressed as a figure of merit such as output per hour, cash turnover or shipped

TIME AND MATERIALS (T&M) CONTRACT

Arrangement where a contractor is paid based on cost of direct labour and cost of materials, using equipment and an agreed upon additional payment covering contractor’s profits and overheads.

TIME PERIOD

Space of time that has an established date of beginning and ending.

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