To prevent liability as a partner for the negligent acts caused by any other partners or any one else not under his or her command, one enters into this type of US

For accountants, architects, lawyers, and other professionals to eliminate personal liability as a partner for damages caused by other partners, they enter into this US partnership arrangement.

Used by a property buyer wanting to move in prior to purchase closing. This arrangement type allows property occupation at an agreed-upon date under specific pre-conditions.

A private partnership with accredited investors that invest in a variety of stock.

The insured pays the entire premium sooner than a traditional model, as set in the policy.

An insured’s whole life is covered by this insurance but only required for a set numbers of years to pay premiums.

The legal protection limiting each shareholder to the par value of fully paid-up company shares to cover the financial liability of the company’s debts and obligations in a privately or publicly owned

Manufacturers product guarantee as a written statement that sets conditions and time limit that the product will work as stated. such warranties are typically limited to repair or replacement of the item

A budget with grouped cost centers or departments as individual financial statement items. Current and future period estimated figures is compared to past accounting or budgeting period financial data.

A discreet unit of information in a document, record, or statement, displayed on its own separate line. A budget element separately identified is often referred to as a line item.

Commonly used in large, centralized corporations as .a military-type organizational structure.

An organization’s chain-of-command job position accountable for the organization’s resources decisions to generate revenue and achieve organizational objectives. Also refer to line and staff management.

Settlement up to a certain limit of claims is what a creditor can accept.

Customs approved system for tracking and release of repetitive, low risk shipments. It is restricted to locations approved by Customs. Bar code technology enables immediate item entry that Customs declares to be

A revenue-generating department’s head manager accountable for policy making, target setting, decision making leading to successfully meeting an organization’s main objectives.

A broker-written document describing a prospective risk that is given to underwriters to decide on their willingness to insure what fraction of risk described.

Repetitive manufacturing process with the same operations sequence each product passes through. The machines and peripheral equipment are in the order they are used. The process is not stopped and restarted for

self-contained departments defining the business or industry structure. Each department manager control over department’s affairs and employees. Accountability goes upwards from the bottom along the chain of command, while authority travels downwards

A specific obligation fulfilling a written undertaking. Also known as specific guarantee.

Someone entitled to an asset’s use during one’s lifetime, named as a beneficiary