Category: P

Regarded as one of the seven different tools used for primary quality control purposes, the Pareto chart is basically a bar graph that depicts different variances by the number of times that

Completion of an act that forms a portion of a contract. A generally accepted rule suggests that partial performance can be accepted, though the contract is not considered completed until full performance

A contract that becomes enforcable without the signing of any party. For instance, a contract to uphold the copyrights of a book are set in place as soon as the customer buys

The time period in which a person was employed and has provided his services, usually before his pension plan became active. Might result in the exclusion of employee benefits that were with

A decision that was given by the Supreme Court back in 1869, which excluded insurance from regulation by the federal government, since it was was not classified as commerce. However, the ruling

A ratio written as weeks of inventory purchases that are unpaid. Dependent upon the terms of credit provided by the suppliers, as well as the payment policies that have been set up

Payment usually made once the bill of exchange has matured, or after it. Usually done in good faith.

The unit of volume used traditionally for dry commodities. One peck is equal to 2 gallons.

The amount which can be added to the funds of an individual, as well as the contributions regularly made by the Registered Pension Plan.

The percentage volume of any substance in liquid or solid state, and by how much it would evaporate at the standard, ambient temperature. For instance, gasoline is regarded as being 100 percent

Performing any contract within the time frame provided and completing all the requirements, meeting the specifications of the customer precisely.

Various different activities that are carried out to ensure the smooth operation of a machine, equipment, system or plant. Usually carried out on a regular, preset schedule.

An employee who is hired to work without any time frame for his exit. For instance, a contractual employee might have his contract rescinded, or will have to leave if it is

The administration of any dose of a substance, given to a worker, in a prescribed manner, without the experience of any harm.

A non physical injury that occurs due to wrongful eviction, slander, false arrest or by violating the right to privacy of any person.

A term used for an illusion that occurs as we see parallel lines moving away, over the horizon and then meeting at a certain point. This illusion is often within our minds.

An account kept to manage the money that will be used for miscellaneous purchases. Petty cash accounts are maintained to keep a proper check on the finances that have been utilized.

The Phillips curve is a graphic depiction of the inversely proportional relationship that exists between the levels of unemployment, and the wages of a person. The main idea of the Phillips curve

Any activity that is designed to bring about a motivation in a person to do better. Examples of physical motivators include climbing, running, hiking, amongst others.

When a couple of companies take upon a business loan, it is known as ‘piggyback’. Similarly, if a company releases its stocks to the public, an investor can choose to unload his/