Category: L

Employing ‘lean thinking’, doing more with less, continues efforts to eliminate or reduce ‘muda’, Japanese for waste or any activity that consumes resources without adding value to design, manufacturing, distribution, or customer

Held as a ledger’s separate page. Classifies each as an asset, liability, or owners’ equity. Records each balance sheet item’s increases and decreases. Also known as an account.

The way a right is enforced by a court of law when injury, harm, or a wrongful act is imposed upon another individual. The laws of remedies will be based on the

Stay in a hospital or similar medical facility as a total length of days.

Contract award to the winning bidder is document by the customer, owner or principal. Award amount, award date, contract signing date are additional particulars in this written confirmation. It may also contain

The settlor or trustor establishing a trust gives written, non-binding instructions or guidance of the trustee. The settlor must avoid any impression that the settlor is trying to make the trustee a

Scheduled loan repayment. Schedules a fixed number of fixed-amount monthly installments. Interest and principal allocation shifts from month to month. Early on, interest allocation is high. Over time, interest allocated decreases and

1. Lawful monies owed, like a tax or usage fee. 2. Collected monies. 3. As a judgment or to pay a debt or claim, lawful seizure of a debtor’s specific asset or

Tally time-bound or over a full life span for a good, service, structure, or system of all recurring and onetime costs Cost to buy, install, operate, maintain, upgrade, as well as residual

An entity holding a property as a life estate. Also known as tenant for life.

Consumer electronics and clothing manufacturing are examples of light industry. It is part of an economy’s secondary industry. It has less capital-intensive and more labor-intensive operations. End consumers rather than other businesses

Specific location or specific chain of stores scopes product sales.

A specific tax backs this type of municipal bond.

Repetitive manufacturing process with the same operations sequence each product passes through. The machines and peripheral equipment are in the order they are used. The process is not stopped and restarted for

In a surplus treaty a reinsurer agrees to accept this amount.

Investment instrument, stock, shares, bonds, officially quoted or listed for public trading on a stock exchange. In over the counter market in the US or in alternative investment market in the UK

Allows life insurance to have long-term care benefits. Stems from a mixture of life insurance and long-term care coverage. This practice reduces the value of the life insurance policy is less because

Delinquent borrower’s payoff routine worked out with a lender. Rescheduling the loan, having a longer payback period, having smaller installment amount are typical conditions. Staves off further delinquency and likely foreclosure.

Amount of control an entity believes it exerts over current and anticipated circumstances, as well as expected responses as behavior toward these circumstances.

Agreement to provide aid and extend trade and tariff preferences to 62 African, Caribbean, and Pacific (CAP) states by the European community, now the European Union. In 1975 the capital of Togo,