Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: S

STATEMENT OF OWNERS’ EQUITY

Financial statement that shows starting balance, deductions and additions, closing balance of a share holder’s equity account. Also known as Statement of shareholders equity.

STATUTE OF LIMITATIONS

Time frame set by legislation where affected parties need to take action to enforce rights or seek redress after injury or damage.

STEERING COMMITTEE

Committee advising on issues key to company objectives and policy such as marketing strategy, budget control, allocation of resources.

STOCK POSITION

Position of an item of inventory based on relationship between demand and needs, quantity on hand and orders that are outstanding.

STOPOVER

A planned and deliberate break for a journey that is longer than 24 hours.

STRAIGHT LIFE POLICY

The premiums of the policy last the duration of the insured’s life to 100 years. Also called Continues premium whole life policy.

STRATEGIC INFLECTION POINT

Transition time of a company’s competition requiring the company to change its current path and adapt or risk losses of profit.

STRETCHWRAP

Shrink-wrap is similar, a plastic film tightly wrapped around goods or packages. Not heat shrunk but tightly stretched.

STUDY

The research, examination, identification of aspects or factors of an event or activity.

SUBJECT TO

1. Conditional or dependent on something. 2. Being under domination as of a authority or government subject to the whims of the boss.3. Exposed or open to undesirable or unfortunate criticism. 4.

SUBPRIME CRISIS

A situation that arose in 2008 and affected the mortgage industry because borrowers were approved for loaned they couldn’t afford. Many lending institutions collapsed.

SUBSTANTIATION

Support of a claim or assentation by objective data or other proof of evidence.

SUNDRY CREDITORS

Infrequent or miscellaneous supplier not assigned an individual ledger but are grouped together.

SUPERDOT

Used at the New York Stock Exchange, it is an electronic order entry and reporting system.

SUPPLY CHAIN

The complete network of bodies that are either directly or indirectly linked or dependent in serving the same customer. It will comprise the vendors of raw materials, production company, storage warehouses, distribution

SWAP MATERNITY

Provision where pregnancy covers members in a group health plan but coverage is terminated at the end of the plan even if a pregnancy is still progressing.

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