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

Category: Finance

STATUTORY CONSTRUCTION

1. The interpretation of a statute by the court.2. Principles developed for legislation interpretation by courts.

STEP FUNCTION

A function of Mathematics where a variable will remain constant within an interval but not outside or between intervals.

STICKINESS

The ability to retain, visitors, employs, participants and customers.

STOCKOUT RISK

The exposure to loss that arises from running out of one or more items of inventory.

STORE AND FORWARD

Mode of communication where the transmission is asynchronous. Data is held at the sender’s end until the recipient is ready to receive it.

STRAIGHT SALARY PLAN

Method of compensating a sales person where only a salary is paid with no commissions on sales.

STRATEGIC VARIABLES

Factors that affect the organization’s external environment and its strategic objectives.

STRIP FINANCING

Achieved by the sale of standard packages of securities comprising common and preferred stock, convertible bonds with debt in fixed proportions. Also known as strips and can’t be confused with STRIPS.

STYLE MANUAL

The format for written communication followed by all departments of an organization.

SUBJECTIVE ERROR

An error that is systemic and caused by the bias or prejudice of an individual.

SUBSCRIBER CONTRACT

Contract describing benefits available to a person registered under a plan for health care.

SUBSTRATE

The underlying or primary material on what other materials are applied or made from.

SUICIDE CLAUSE

Life insurance provision where the policy will not pay for suicide within 2 years of the start date.

SUPERLEADERSHIP

Situation where leaders gradually and deliberately turn over power, authority and responsibilities to a team that is self-managed.

SUPPORT COSTS

Expenses that are incurred in activities that are not associated directly with production.

SURPLUS PROPERTY

Property not being used but is held by a state government. It may be out of date of not working.

SWEATSHOP

The business that takes advantages of its employees and work them under hazardous or harsh conditions paying minimum wages.

SWORN STATEMENT

An assessment or written or oral facts that are stated under oath, an affidavit, for example.

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