Fundamental principle of most modern economies whereby a nation’s wealth is channeled, from those who have more to those below a certain income level, through taxes that pay for welfare.

A biased practice in which a risk is deemed uninsurable or charged a higher rate due to its locality

IBM’s central processing unit (CPU) chip design that utilizes a reasonably smaller number of machine language instructions to perform its jobs, thereby enhancing the computer’s speed of data processing.

A Material that brings about reduction or depletion of oxygen or the addition of hydrogen in other substances by being oxidized in a chemical reaction. Also known as reluctant.

1. Accounting: Procedure of asset depreciation based on a percentage of its book value that lessens every year. 2. Banking: Procedure for calculating the interest amount on the principal balance.

This term refers to the process that is used to terminate employment positions that are caused by funding that was lost, changes of requirements, or the reorganization of business operations or department.

Material worldview in which compound facts are broken down into conceptual pieces small enough to be measured. The basis of all analysis, reductionism is useful in understanding inanimate things or simple systems.

This term refers to that which goes beyond what is natural or ordinarily necessary

A data backup plan where a single hard disk is replaced by two or more smaller disks. Each of these disks has its own controller and works separately of others. Each one

This term refers to a shipment that requries a temperature controlled environment.

Also known as reefer, this container is used to transport perishable cargo and has its own, self-powered system to keep it cool. This is a refridgerated shipping container.

Defined by Michael Hammer and James Champy in their 1993 book ‘Reengineering the Corporation’ as “Fundamental rethinking and radical redesign of business process to achieve dramatic improvements in critical measures of performance

This term refers to the review of requests for records during a specific period, to identify more requested records and request patterns.

The year that is used as a reference point to measure inflation. In the base period, the Consumer Price Index receives a value of 100. If the CPI then goes up to

Atlas, encyclopedia, thesaurus dictionary, directory, handbook, or any other work designed to for use in finding specific items of information, rather than for cover-to-cover reading.

The act of contacting previous employers of a job applicant to determine his or her job history. Reference check may also include checking with schools attended by the applicant to verify education.

Also called working copy or convenience copy. This is a duplicate copy of an official record but not the record copy created for ease of access and use.

This term refers to how a portfolios value is measured or how a transaction is denominated.

A type of document that outlines procedures as they relate to a particular activity. A reference document outlines the procedures undertaken during an activity to avoid missing steps the next time that

This term refers to the concentration of a chemical of which adverse effects on human health knowingly occur. See also acceptable daily intake.