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

Category: G

GRANDFATHER CLAUSE

Exemption-allowance statement. Insulates specific entities, object, or situation from the fallout of changes or imposition of a decision. It could be a rule, law, or statute with pre-existing conditions. An example is

GREATER FOOL THEORY

Puts forth the view that any price, as unrealistic as it might be, is warranted if one buyer believes that another buyer will pay an even higher price for the same item.

GROSS BLOCK

A count of valued entity instruments. Long-term asset depreciable costs are excluded.

GROSS NATIONAL INCOME

Total international income added to the gross domestic product (GDP) makes up this value. Government expenditures plus international assets generated income plus gross exports generated income minus gross import taxes minus indirect

GROSS SALES

Un-adjusted, total sales invoice value. Un-adjusted means prior to deducting discounts or returns, or miscellaneous adjustments.

GROUP

1. Two or more of something with some type of commonality. Typically, people who work together to achieve a common set of goals. This involves regular contact, frequent interaction, mutual influence, and

GROWTH SHARES

Shares a firm issues that are consistently above average earning. They are traded at more money over a long period of time. AKA growth stock.

GUEST WORKER

A party that has special permission to work temporarily in another country when a shortage occurs.

GAMBLING

Betting; wagering. Results in either a gain or total loss of wager, the money or asset put up. Neither risk-taking nor investing, nor like insurance. Risk taking or speculation takes on substantial

GARMAN KOHLHAGEN MODEL

Foreign exchange’s European call option value estimating formula. Risk-free interest rate paid on foreign currency is a continuous dividend yield in this formula. Borrowing and lending takes place at the same interest

GAUGE REPEATABILITY & REPRODUCIBILITY (GR&R)

Measurement accuracy determination. Confirming a test result by several measurements taken by the same person are identical in value, setting its repeatability, and several measurements taken by different persons are identical in

GENERAL AND ADMINISTRATIVE EXPENSE (G&A)

Accounting for expenditures not directly associated with goods or services production. Money spent in operating a business for typical things, such as rent, salaries, telephone charges, and the like.

GENERAL STRIKE

Seeking to extract concessions, this type of labor stoppage tries to paralyze a country or regional economy. Far-reaching labor stoppage in most or all industries. Rare in developed countries. The last one

GENERIC NAME

Once exclusive, unique brand names that now identify a category for all brands under this respective category of products. Fridge (refrigerator), PC (desktop computer), Thermos (vacuum flask) are some examples. Generic names

GEOMETRIC BROWNIAN MOTION

A lognormal, continuoustime STOCHASTIC PROCESS where the movement of a variable, such as a financial ASSET price, is random in continuous time; the instantaneous return (defined as the change in the price

GIGABYTES (GB)

One billion bytes. Exponential: 2^30; As a number:1,073,741,824.

GLASS CEILING

The next stage or level of advancement barred by some invisible barrier. Although illegal, such practices exist in most countries. Age, ethnicity, political or religious affiliation, and/or sex are typical barriers. A

GLOBAL MARKETING

To reach international markets and their community, an entity engages a process of conceptualizing and conveying a final product or service worldwide. It is especially important to companies that provide products or

GLOBEX

Electronic trading platform for futures and option contracts that is the Chicago Mercantile Exchange. It is a virtually continuous worldwide market. It opens for trading Sunday evening, staying open roughly 23 hours

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