To acquire or get something. Someone can receive an item such as a letter or a gift or can receive something non-tangible such as a word of encouragement or praise.

A certificate that is comparable to a lien and distributed by a receiver to cover assets in the event of liquidation. Payments come first, before any other claims can be paid.

This term refers to the administrative functions that include checking the quantity, quality and condition of any incoming goods followed by their proper storage.

Measure of the time elapsed since (1) an advertisement was last published, or (2) the last purchase was made by a customer, or (3) a commercial was last broadcast.

The idea that once a customer makes a purchase from a company, they are more likely to buy the same product or other products that are offered by the same company.

A Flaw or Inaccuracy in performance appraisal or job interview, caused by the evaluator or the interviewer’s dependence on the most recent occurrences of the employee or the applicant’s behavior.

Media planning tactic that indicates that advertising at a lower weight but a higher, consistent frequency is more successful than advertising at a higher weight but a lower, sporadic frequency.

This term refers to the revision of already published work due to the discovery of new information. See also: Redaction

1. Social event with food and beverages, arranged to welcome special guests or a newly married couple. 2. Room or area where visitors (1) are received, (2) register for hotel stay

The first point of contact in an office; receptionists are seated at the entrance and do a variety of tasks including answering phones, distributing mail, signing for packages, office upkeep.

Essential piece of macroeconomics that accounts for the gap between the short run equilibrium level and full employment real production. A recessionary gap is associated with a business cycle contraction.

Within the environment of health insurance, this term is used in reference to the regularity with which an insured returns to the hospital for inpatient treatment due to the same complaint.

Ingredients or components with their relative proportions and the method of processing to create a manufactured good or product.

A location or place where the insured’s business is accepted or approved. Under business income coverage, one of the types of properties or assets that may be covered.

1. Inversely related. 2. Relationship in which movement of one party is met with a corresponding movement of the other. 3. Number resulting from dividing 1 by a number except 0.

1. General: arrangement in which two or more parties agree to share resources. 2. Data backup: Two organizations agree to store backup data. 3. Disaster planning: Each party agrees to allow another

This agreement led to General Agreement on Tariffs and Trade in 1947. Congress passed act of 1934 that allows the President to create foreign tariff reduction agreements without approval of Congress.

This term refers to an arrangement between two parties that allows the roles of buyer and seller to be interchangeable. Each sells to the other and buys from each other.

Indifferent and conscious contempt of others’ reputation or rights, the dangerous consequences of one’s action. In defamation cases, the defendant’s malicious intent is judged against the standard of ‘reckless disregard for truth.’

1. Commerce: Seller’s legal right to take back not paid for goods. 2. Land development: Conversion of unusable land into valuable real estate. 3. Recycling: Restoration of materials found in a waste