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

PUBLIC ACCOUNTANT

1. In the United Kingdom this applies to any accountant. 2. In the United States of America it applies to those professionals that carry out services related to accounting to the population

PUBLIC ACCOUNTS COMMITTEE (PAC)

A committe of considerable power who examines the auditors reports to make sure that any government funding to the various departments of government is used in the correct manner and according to

PUBLIC ADJUSTER

This person is an insurance adjuster who works for the person who pays the insurance premiums and not for the insurance company.

PUBLIC AFFAIRS

This is the effort put in by public relations for a firm that is associated with any government agencies, pressure groups and members of the mass media.

PUBLIC ASSISTANCE

This is a system put in place by the federal and state governments to ensure the well being of low income members of the community. It comprises of welfare services for the

PUBLIC BID OPENING

The unsealing and reading of sealed bids that have been received in respinbse to an invitation for bids. Any interested member of the public as able to attend a bid opening. Bids

PUBLIC CORPORATION

1.A company who has traded shares publicly and the shares are held by a large number, hundreds of thousands, of different people. 2. A company owned by the government that provides public

PUBLIC EMPLOYEE’S DISHONESTY COVERAGE

This is an insurance cover that protects against an employees dishonesty during work practices. It is usually used to for money and securities that have been stolen by the employee from the

PUBLIC EQUITY

An investment in real estate that has been taken over by REITS or another real estate company that operates by trading publicly.

PUBLIC EXPENDITURES

This is the money that a government spends on public services and other government departments. The money spent is to provide services that are run by the government.

PUBLIC FILE

This file contains sets of documents that the general public are allowed to see. There is no restriction on who can look at these documents.

PUBLIC FINANCE

A collection of taxes that is from those who have benefited from the government’s providing of goods to the public. This tax is then used to further provide public goods for the

PUBLIC FLOAT

The number of shares that are for sale to the public when a company enters the stock market. These shares do not include the number of shares that are held by the

PUBLIC FOUNDATION

An organisation that is charitable whose funds are provided by a company or private person, though not more than 50% of the capital can be from that company or private individual.

PUBLIC FUNDS

The money that is used by the government to provide goods and services to the public in general. This money has been generated by the government.

PUBLIC GOOD

An item that taxation is used to finance, the consumption of which has been decided by the whole of society. It is not an item for consumption that an individual has decided

PUBLIC HOUSING

Housing that has been funded by the US governement that is provided to people of low income and / or disability who would otherwise not be able to afford housing. A nominal

PUBLIC INTEREST

The welfare of the public as compared to the welfare of a private individual or company. All of society has a stake in this interest and the government recognises the promotion of

PUBLIC INTERNATIONAL LAW

Each state is ruled by duties and rights that need to be adhered to. This is an international law that covers these rights and duties of inter-government agencies and departments.

PUBLIC KEY CRYPTOGRAPHY (PKC)

Introduced in 1976 by Martin Hellman and Whitfield Diffie of the USA. This allows for the secure transmission of data in PGP (pretty good privacy). It is non-secret encryption which is different

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