1. In General, this is a repeatable set steps that lead back to the first step. : 2. In Electrical/Electronics, this is a complete circuit. An example is a wire-pair connecting the

Without violating its literal interpretation, an allowed legal interpretation or practice unintentionally ambiguous due to a textual exception, omission, or technical defect, evades or frustrates the intent of a contract, law, or

The government’s or central bank’s monetary policy and how the nation’s money supply is managed. It occurs by expanding the money supply and encouraging citizens and economic growth with easy access to

A decrease on the profit return results in this condition as the current value of the investment is less that the bid.

Claim adjustment’s total cost over and above the actual claim payout, which is excluded.

The insurer / insurance company hires one for an insured’s insurance claim investigation and settlement an insured. This person is typically and independent entity. Also refer to loss assessor.

Property damage payout due to a homeowners association or property owners group as the insured’s portion of the total amount owed due. This charge-type coverage is offered by certain homeowners insurance policies.

Current year’s net loss offsets previous year’s taxable income as an accounting adjustment, giving a tax refund as already paid. US tax law allowance. Also refer to loss carryforward.

Current year’s net loss offsets subsequent years’ taxable income as an accounting adjustment. Even a partial loss carryback of up to 20 years under the US tax laws is possible.

Compared to other risks in the same classification, this amount intends to offset greater-than-average losses most smaller risks have.

Damages resulting from a pending lawsuit are an example of a potential liability that is probable and reasonably estimable forced to use this provision.

In accordance with the terms and conditions of the rental agreement, safe driving of a rental car relieves the customer of damages arising from loss of the car or any damage to

Later-date amount reporting compared to the insured’s original estimated loss value.

Claims reported late give the insurer extra money due to this factor introduced to permit development of losses and reimbursement.

IRS rule: corporation cannot file one tax return covering the corporation that includes subsidiaries owned by a third party. This prevents corporate use of losses incurred by the other owner, not the

When new equity is issued after a trigger event. It is a contingency measure.

Maximum loss estimate most likely due as an exposure. the insured takes special attention to loss prevention measures.