Obligations such as wages that have to be fulfilled, without worrying about interest accrual.

Monetary gain for financial institutions through charges on investment transactions.

Financial transaction with neither a direct nor an indirect execution to the benefit of the user. Sometimes, these transactions do not need to be registered with the Securities and Exchange Commision (SEC).

The process that involves the sale of a property, utilizing the power of sale in mortgage. However, most insurance companies require a judicial disclosure by the court before issuing a policy.

Instruments such as the receipt of higher interest with a dividend payment, that is not recorded in a ledger account.

A non-liability becomes a liability only when it becomes payable. For example, the contraction of a previously non-liable loan principle makes it a liability, but the loan interest is granted the status

1. An graphical plot of an equation, whose points do fall on a straight line, but rather a curve. 2. a procedure that does not follow a predetermined sequence.

The opposite of linear systems, it refers to the system whose external factors may be disruptive and non-additive. Non linear systems cannot be broken down into smaller parts and then put back

1. A feature of economic and social systems that cannot be broken down into smaller parts and reassembled to obtain the initial system. It is characterized by unpredictability, random behaviour and approximation.

A policy that deems the insured’s statement of healthy sufficient for its issuance.

An asset whose monetary value is variable and depends on economic conditions.

The price, that is non-inclusive of the monetary, which is incurred by the customer when he/she buys the product. This includes the time spent shopping and the value assigned to the risk

Bill of Lading that prohibits use of endorsement to transfer.

An instrument such as a document or a financial instrument that cannot be transferred between the holder and any other individual or institution.

A stock owner who gives authority to the brokerage through which he holds the stock, to diclose his details to the underlying company. The company is thus able to contact him regarding

Injuries that are sustained at work are not insured under this policy due to their coverage under the workers compensation.

An asset or investment such as interest income from a fixed deposit, that generates additional income for a business, but is not a part of the operation of the business.

Activities such as the insurance and maintenance of assets that are not directly involved in the operation of the business, but result in an additional expense for the firm.

The profit realized from activities such as the sale of an asset, which is not related directly to the firm’s primary business operations.

Income that is not derived from the operations of the business, but still received. It is examined independently from operating income as it does occur frequently. A one time occurrence such as