Debts that are not secured and have no special claim on the debtor?s assets. Secured and preferential debts will be satisfied before ordinary debts.

1. Business: Income that is obtained by day-to-day business transactions, excluding the sale of capital. 2. Personal: The amount of an individual?s income that is subject to full tax rates (and not

Interest calculated based on a hypothetical year of 360 days.

This sort of pension plan is funded by a trust. It provides death benefits through life insurance coverage plans. The insurance premiums are paid by the firm until the employee retires, when

Life insurance policy which the policy holder pays throughout his or her life.

Losses caused by day-to-day business operations.

Total payroll expenses for all employees of an insured business, excluding executives, contractors, officers of the company and departmental managers.

A record detailing an agent?s ordinary policies, held by the relevant agency or insurer.

Repairs to assets caused by day-to-day wear and tear that are required to maintain the asset?s functionality. These repairs do not increase the value of capital assets, they merely preserve value.

Company resolution that involves unexceptional company business and requires only a simple majority vote to be passed, without prior notification of the proposal.

UK / Commonwealth term for COMMON STOCK.

The vertical axis of a chart / graph (i.e. the ?y? axis).

1. Similar to a living organism, with clear and functional internal structure and consistent life cycle of birth, growth, decay, and death. 2. Compounds (natural or synthesized) that contain carbon.

In 1913, William Howard Taft ratified this law that split the Department of Commerce and Labor into two separate departments (the Department of Law and the Department of Commerce).

Agricultural production processes that only use natural sources of nutrients and do not use synthesized chemicals or genetically modified crops.

The rate at which a company will grow using only its own resources, without borrowing or buying other firms.

Organic organizations consist of employees of similar status without formal job titles or responsibilities, so individuals can perform the tasks to which they are best suited. Decision making is informal without resort

Pollution that occurs when organic substances emit pollutants into the environment. These pollutants can usually be oxidized by naturally occurring micro-organisms.

Calculation of oil reserves generated through a company?s own exploration and production processes (rather than purchased). Used as an indicator of the strength of an oil company.

A group of people, structured in a specific way to achieve a series of shared goals. Relationships within an organization are determined by its structure and are typically based upon role and