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

GROSS EARNINGS

Un-adjusted, total calculated operational revenue. Pre-expense deduction.

GROSS EARNINGS FORM

Insurance coverage for lost business gross earnings from insured condition damage. Excludes expenses stopped during damage recovery. Excludes un-contracted expenses.

GROSS ESTATE

Un-adjusted, under probate estate value; probate fees are a percentage of this value.

GROSS INCOME

Production costs or cost of sales amount exceed by unadjusted, total sales revenue.

GROSS INVESTMENT

Un-depreciated, total invested value of business assets. This more accurately presents actual financial commitment to an asset with potential return by the firm.

GROSS LEASE

Lease type. The tenant. or lessee, is accountable only for a fixed fee or rent. The owner pays all other expenses, service fees, and taxes. Insurance, maintenance, and taxes are examples of

GROSS MARGIN

(Sales revenue minus Cost of sales) divided by Sales revenue calculates this value.

GROSS NATIONAL EXPENDITURE

Country’s total expenses, both public and private, excluding export expenses. Contrast Gross Domestic Product, which includes export expenses.

GROSS NATIONAL HAPPINESS (GNH)

Psychological and physiological attempt to measure national happiness as a part of GDP (Gross Domestic Product). Bhutan’s former King Jigme Singye Wangchuck coined it in 1972. Techniques vary, but a widely used,

GROSS NATIONAL INCOME

Total international income added to the gross domestic product (GDP) makes up this value. Government expenditures plus international assets generated income plus gross exports generated income minus gross import taxes minus indirect

GROSS NATIONAL PRODUCT (GNP)

National GDP plus overseas income from in-country companies’ foreign subsidiaries as well as nationals living out of the country.

GROSS NEGLIGENCE

A severe degree of negligence taken as reckless disregard. Blatant indifference to one’s legal duty, other’s safety, or their rights are examples. There is no specific legal definition, but if one drives

GROSS PARITY

After being translated into US dollars, this is the international equities and convertible securities price value .

GROSS PAY

employee’s regular total earnings before any deductions are made. Allowances, overtime pay, commissions, bonuses, and salary comprise total earnings.

GROSS PREMIUM

the normal life insurance premium the policy owner pays. Net premium plus expenses plus commissions comprise this value.

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