Category: P

An industry that is composed of private companies. The corporate sector and the personal sector are encompassed in the private sector and they are responsible for the allocation of the majority of

The error associated with providing estimates for a sample that is from a normal distribution. It is the product of the standard error and 0.6745.

Activities related to administration that are aimed at (1) process definition, (2) establishment of responsibilites, (3) evaluation of process performance and (4)Identification of improvement opportunities.

Identification of the charecteristics of a good or service in order to satisfy a recognized need or want.

Preparation of a budget using program description, in lieu of the expense line items.

US Department of Housing and Urban Development backed short term debt securities used to finance construction of partially state-funded residential complexes and federal constuctions. There sole purpose is the aforementioned one and

The message that the company is conveying about its products or services. The message will be repeated across all types of media for advertising and could include a slogan or saying that

The voting scheme which ensures that each party or group is represented in the same proportion that they appear to be in the whole population.

1. Thisoccurs when a businesses or company is owned by one person or one family. It is not owned by several people or a group of companies. 2. Proprietorship can also be

A trust created that will protect the assets of the trustor in their lifetime from the effect of the trustor declaring bankruptcy. The trustee is responsible for any interest earned by the

A principle of accounting that requires you to rcord every liability and expense as soon as it occurs but you only record the results when they are gained or at least assured

An investment in real estate that has been taken over by REITS or another real estate company that operates by trading publicly.

An insurance taken out by an individual that covers them for any legal action against them. It is for injury to damage to any property that ends up in a court and

This is a telephone service that provides a dial tone and communications between two parties. Any digital or analog number can be called by any party with a hand set or telephone.

The date after which a product cannot be sold. The public refer to it as the use by date after which the seller must remove the product from the sheves for sale.

An economic term related to goods or services that does not generate any external entities. The producer or consumer of the goods or service will bear all of the costs and receive

The method by which a product leaves a company and is then sold to a customer. The client will buy or pull the product and the business provides the push that will

When accounts are closed for a month, the prepaid interest is collected which is in fact the partial payment of a month’s interest payment

The shortlisting of potential bidders who will receive the invitationtobid(ITB) documents based on experience, reputation, financial and mangerial ability, etc.

A software for data encryption that makes sure that messages sent over the internet comply with the integrity, privacy and security laws. Encryption and Decryption are the equivalent of two physical keys