Category: N

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.

A ticket that prohibits the transfer of tickets between two passengers.

The North Atlantic treaty of 1949 led to the formation of this military alliance between the 26 member countries with the intention of combating the spread of communism. It now makes a

A document which has been authenticated by the signature of the relevant individual and the signature of the notary public who acts as a witness to the signature. This document is then

The period within which the delivery of the contract has to be accepted by the contract owner. This period usually lasts between three and six weeks before the expiration of the contract.

The average number of days that an item spends as a part of an inventory, expressed as a ratio. It is used to determine the quality of inventory control and thus is

1.Nominalism is a legal concept that states that the amount that is due remains the same in the event of a currency appreciation or depreciation. 2.It is also a philosophical concept that

An understanding or arrangment between the employer and employee that accounts for the reimbursement of employee expenses unrelated to the business. It also refers to reimbursements that were not requested within the

A type of financial equity that requires the payment of a penalty if it is redeemed before the maturity date. This protects the holder from the income loss that is caused by

Costs that occur when product quality is not up to standard. It also results due to production imperfections and includes both internal and external costs.

An intermediary organization such as the government that facilitates transactions between the savers and borrowers. Time deposits are however not accepted. These intermediaries source their lending activities through the sale of securities