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

READERSHIP TEST

Also known as a recognition test, a readership test entails asking a random sample of readers of they read a specific advertisement that was included in a particular issue of the publication.

READINESS

Readiness is the state of being prepared though people, systems and organizations to meet a situation and carry out the proper sequence of actions. It is based on thorough planning and training.

READING GRADE LEVEL (RGL)

Number assigned to the level of how complex reading material is. It equals a level of schooling. For instance, level of seven means the reading material is suited for a student in

READJUSTMENT INCOME

Income essential for the family of a deceased primary wage earner. This income allows the surviving family member?s time to readjust their spending habits to accommodate their new level of income

READY, WILLING, AND ABLE

Ready, willing, and able defines persons who are legally and financially able to complete any type of transaction. Authorization and approval are not necessary from any other persons or parties.

REAL ACCOUNTS

Reserve, liability, capital accounts and assets, which will appear on a balance sheet. Real account balances will not be cancelled at the period end but are instead carried over into the next

REAL ASSET

Real assets are tangible assets such as valuable antiques, artwork, buildings coins, machines, stamp collections, etc., as opposed to items that are financial assets including debentures, shares, bonds and so on.

REAL ESTATE

Real estate includes the land and anything fixed, immovable, or permanently attached to it such as buildings, walls, fixtures, improvements, roads, trees, shrubs, fences, roads, sewers, structures, and utility systems.

REAL ESTATE AGENT

A real estate agent is an individual licensed to negotiate and transact land and real estate sales for a commission. Most real estate agents work for a broker or realtor.

REAL ESTATE BROKER

A real estate broker has met the education requirements and qualifies for their own business. They may hire other agents from whom they will earn a commission from sales volumes.

REAL ESTATE BUBBLE

The real estate bubble is distinguished by property values quickly increasing until they outperform other elements of the economy. They are then followed by a sharp decline in property value.

REAL ESTATE INVESTING

Real estate bought purposely to earn an income versus using the residence as a primary place of residence. A real estate investor will purchase buildings with the intent to rent.

REAL ESTATE INVESTOR

Investor who assesses the real estate market and purchases property with the intention of earning money. Real estate investors can purchase residential or commercial property, depending on their specific goals.

REAL INVESTMENT

Real investment is money that is invested in tangible and productive assets such as machinery and plant, as opposed to investment in securities or other financial instruments.

REAL MEDIAN HOUSEHOLD INCOME

Data that divides households into two parts with one-half earning more than the median income and the other half earning less. This refers to the combination of more than one income earner

REAL TIME

1. General: Response that appears to take place instantaneously 2. Computer model: Animations corresponding to real life situations 3. Data process: Instant updating 4. Data transmission: Simultaneous transfer of data as opposed

REAL WAGE RATE

A payrate that is adjusted to account for the effects of inflation.

REALISM

1. Practical orientation that relies on the facts and takes into consideration things as they are, not on what they might be. 2. Philosophical concept that theoretical entities such as numbers and

REALIZATION

1. Change of assets, goods, or services into cash or receivables through sale. 2. Recognition of revenue when the title passes from seller to the buyer with the creation of a responsibility

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.