Category: N

Data that contains significant information regarding the items being costed but does not include any information related to cost. Some examples include technical descriptions, schedules, etc

Absence when called upon by a court at the hearing

1. Accounting: A Financial items that does not affect the firm’s cash inflows and outflows while being included in the computation of its income on the basis of accruement 2. Banking: Checks

Several companies within the same field or industry who are independent but lack cooperation between each other.

An entity that is not affected by the influence of another individual’s discretion or preferences. For example, a budget or a contract states the non discretionary spending that ought to occur. Also,

Assets that have no physical attachment to a building. For example, a non attached garage or shed on a property.

1. A feature of economic and social systems that cannot be broken down into smaller parts and reassembled to obtain the initial system. It is characterized by unpredictability, random behaviour and approximation.

The benefits received in the form of a reimbursement when a medical service is delivered by a nonparticipating medical provider.

Documents which do not require to be filled and have no retention value. These can be drafts, memos or a copy for distribution.

The failure to fully examine the available data results in this type of audit risk. It also results from the incompetency on part of the auditor to spot a mistake or a

A clause in a policy that states that coverage of the policy begins at noon. Inapplicable to policies nowadays, which are effective as of 12:01 am.

A negative attitude that is used to shoot down constructive suggestions or improvements to a situation.

A notice stating the intent to imminently cancel an agreement or policy. It can be issued by either the insurer to cancel the coverage or by the insured to request for a

Literally meaning irrespective of, the term is also used in the contractual sense. A statement in a contract that is used to highlight contractual obligations arising from multiple parts in the contract,

A chemical substance, usually compounds that are absorbed by the tissues in the body when consumed. They are essential for survival.

An indicator stating the Buying or selling prices that is used for valuation purposes, rather than as a bid or offer.

An abbreviation for nondomiciled. It refers to an individual living in the United Kingdom who is a temporary resident (sometimes a foreign national), and only pay taxes on income generated in or

The satisfaction of debt obligations through additional investments is not permitted with this stock.

A financial activity that involves the owner’s equity and liabilities but has no effect on the inflows and outflows of cash. A significant amount involved in a noncash transaction is included in

Services that are outsourced to third parties due to their non-involvement in the value proposition of the firm to their customers. This includes services such as installation and maintenance.