The Law Dictionary

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

Category: Finance

WORK ORDER

1. Contracting. Customer order allowing contractor to proceed with no more instructions needed. 2. Manufacturing. Authorization from within the firm to incur the costs to design, develop and produce a product.

WORK YEAR

Hours worked by a full time person each year and commonly 52 weeks at 40 hours each week.

WORKFLOW DIAGRAM (WFD)

Depiction graphically of steps taken , time, distance travelled and aspects of how a piece of work is done.

WORKING CONTROL

1. Owning 51% or more of voting shares in a company. 2. Control of a minor shareholder with less than 50% working with other holders to make more than 50% ownership of

WORLD BANK

Popular name for International Bank for Reconstruction and Development. See World Bank System.

ZERO COST OPTION

Strategy of trading where one option purchased is equal to one option sold.

ZIPPED FILE

File of compressed data that can be expanded when received using an unzipping program.

UNFAIR ADVERTISING

Advertising causing harm to consumers and can be restricted by unfair advertising laws. See unfair consumer practice.

UNIFORM GIFTS TO MINORS ACT

Regulation allowing the adult right to contribute funds to a minor’s account that doesn’t need setting up a trust fund. Adult will manage the account until the holder reaches 18 years of

UNIT COST

Expense used to produce one unit of a service or good often an average cost.

UNIVERSAL AGENT

Agent authorized to perform the same acts as the principle is able to perform.

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