Category: U

Property classification where it is not occupied by people but can have goods and furniture in it.

Taxpayer’s failure to report all income he has received and avoid paying as much tax as needs to be paid.

New version of hardware and software, equipment or a machine better than the last and more expensive.

Industrial firms processing raw materials into an unfinished product to be completed by someone else.

Period during which an asset will be able to be used.

Total number of men and women able to work who are currently looking for work.

1. Finance. Debt or project not funded by private or public funds. 2. retirement plan. Current benefits are paid out from current funds paid into the plan.

Standard loan application required by Fannie Mae and Freddie Mac for single family loans for homes. Also called Form 1003.

Loss exposure that is associated with a certain investment or strategy of investment that can be reduced by diversity in a portfolio.

Method where goods are sold in a fixed unit including all profit margins and costs.

Powerful and very stable 32 bit operating system used by computers. Is the platform the internet was built on, written in C language and coming with TCP/IP protocols.

Remaining balance of a loan, cash advance or credit that has not been paid.

L/C that has no restrictions about the bank chosen for negotiation.

High court decision to endorse and approve a defendant’s appeal.

Transfer of income to a tax haven by internal billing processes. See transfer price.

User’s network. Largest electronic bulletin board in the world.

Property or asset that is free from any debt.

Transmission from a point to another point from one device to another device.

Websites internet address, file or document. It reads HTTP://www.address/directories/filename. Also known as Universal Resource Locator, URL or web address.

Benefit of a service or good differing from competing brands giving the buyer a reason to buy it.