Category: N

A license that grants several licensees within the same industry, the same rights to an intellectual party at the same time or consecutively.

Obligations such as wages that have to be fulfilled, without worrying about interest accrual.

An asset or investment such as interest income from a fixed deposit, that generates additional income for a business, but is not a part of the operation of the business.

Costs such as the administration costs that are a non-contributing factor to the manufacturing cost of a product.

Natural resources such as gas, coal, etc that can be consumed only once and hence are irreplaceable. Currently, most of the energy resources that we use are non-renewable. The renewable resources are

A balance sheet based on the concept that equal value should be placed on a firm’s intellectual and physical assets. As such, it assigns an arbitary value to intellectual assets, intellectual capital

The classification of group industries into 20 sectors, which are further classified into 1,170 industries based on the establishment type. The identification is through the assignment of a 6 digit code. For

Refers to an individual belonging to the notary exercising his official authority. For example, the authentication of a document is guaranteed by the placement of the notarial seal on it.

1. Finance: A statement notifying the financial institution of the account holder’s intent to withdraw funds. 2. Legal: A statement or notice that is addressed to a partnership or the other parties

A proposal that has to be verified before its acceptane or rejection to favor a relative proposal. A common null hypothesis states the absence the absence of a relationship between the two

The income that is derived from a security.It is stated as a percentage of its purchase price.

Rejection by a drawee due to a failure to honor the instrument of negotiation (a bill of exchange)

Income that is received from passive sources such as the appreciation of a real estate property and as such they fall under the tax related category of income.

Also referred to as defect, it occurs when specific requirements are not fulfilled

The failure to deliver goods or legal instruments in compliance with the law or custom

Workers who are not exempt from a rule or policy. With respect to wage and hour laws, employees who are nonexempt are to follow workplace regulations and are eligible for overtime pay

Monetary gain for financial institutions through charges on investment transactions.

Activities such as the insurance and maintenance of assets that are not directly involved in the operation of the business, but result in an additional expense for the firm.

Time that is not spent on the execution of a task or on manufacturing operations.

Refuseal by the insurer or the insured to renew the coverage on an insurance plan. Usually done on the policy’s expiration date or its anniversary.