Category: P

This uses the results of psychological tests to determine a persons abilities, attitudes, aptiudes, behaviour

The money that is used by the government to provide goods and services to the public in general. This money has been generated by the government.

The policies that have been declared by the state that covers the state’s citizens. These laws and policies allow the government to stop any action that is against the publics’ interest. There

A storage facility that is made available to anyone who would like to store any sort of goods. Any person or company can use the storage.

The agreement by which a buyer agrees to sell an item to a purchaser. The buyer needs to agree to a set of conditions in order to buy the product.

A trust situation that involves three parties. The parties are the creator of the trust, the trustee, and the beneficiary. This is a contractual trust and is different to a statutory trust

Used in finance to pay off one loan by taking out another loan. This continues until the whole scheme collapses and the borrower declares bankruptcy in order to relieve himself of the

A guaranty made by a financial institution that assures the secureness of the prepayments made to a contractor.

The force experienced by a surface that is expressed in terms of force per unit area. Its SI unit is Pascal (a force of one newton on an area of one square

The agreement between a customer and the contractor that is used to determine the price or cost of reimbursement.

Assuming that all other factors remain constant, this principle states that for every additional quantity of a good consumed, the marginal satisfaction derived for the user decreases.

An adjustment of the errors in the financial statements of a previous period, that is reflected in the financial statement of the current year.

The application of specific laws in the case a foreign entity is involved, usually in local legal systems. The validity of the prosecutor’s judgements are also monitored under the private international law.

A corporate action that takes the necessary steps before the actual occurrence of a problem. One of the four steps undertaken by companies in response to the social and environmental problems posed

A strict following of the code of ethics that is based on honesty, especially in matter related to money and beyond the legal requirements.

The relative measure of the average change in the price of a basket of goods that are sold by the producers in the wholesale market. It consists of three different indices and

1. A person, who is a member of a professional body due to the education qualification and follows the prescribed moeal and prefessional code of conduct. 2. A person who has mastered

Income tax, which is proportion to the income of the individual and the burden of tax falls on high income individuals.

A UK government initiative, which focuses on remitting the project purpose, not just the planning and observation part of the project, normally used for management of large projects.

The subsequent checking and rechecking of a written document before it is sent to the printers. It includes checking of spelling, grammar, layouts, photos, headings and indexes in books, magazines, leaflets, pamphlets.