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

Category: Finance

UNDERRUN

Situation where an item’s cost is below the projected cost.

UNDIVIDED INTEREST

Ownership claim of property or assets commonly owned with restricted claims but no one has an exclusive claim.

TCP/IP STACK

Computer code augmenting or extending capabilities of TCP/IP where socket software is provided.

TECHNICAL INFORMATION

Evaluation, engineering and development and research information associated with design, operation, production of machines and equipment, system or process.

TERM BILL

Bill of exchange payable after a set number of days from delivery or presentment. Also known as period bill.

TERMINATION

1. last step of employment where a worker is let go. 2. Customer cancellation of remaining work of a contract. See termination for default and termination for convenience.

TESCO

Retailer and business in the UK, now online and founded in 1919 and is currently one of the world’s largest retailers.

THE ACCOUNTANT’S MAGAZINE

Journal founded in Glasgow, Edinburgh and Aberdeen in 1897 by the societies of accountants and later adopted by the Institute of Chartered Accountants in Scotland in 1951.

TICK MARK

A notation made on an accounting sheet showing it has been reviewed by an auditor.

TIME PRODUCTIVITY

Ability of consuming today’s goods to generate more consumption of goods.

TOLL CALL

Phone call made from outside the exchange area and charged on a per minute basis.

TOP DOWN

1. Communications. Where an employee is given information on prospects of actions and then given feedback. 2. Decision making. Approach where results are decided upon first and then the method to get

TORSION

Strain produced by twisting material.

TRACER

Inquiry that is started to trace a piece of information back to the document it originated from, or to find a shipments that is lost or delayed.

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