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

AUCTION RATE BOND

A bond with no taxes paying a varying interest rate decided by a dutch auction.

AUCTION RING

Buyers that work together on an auction to keep prices low. The simply don’t bid against eachother. The items bought are reauctioned privately and profits are shared among members. It is illegal

AUDIO VIDEO INTERLEAVE (AVI)

The file formater for microsoft that plays audio and video. CD quality video and sound is created but it takes up a lot of space.

AUDIT EVIDENCE

The grounds an auditor comes to an opinion based on. Tests and documents are used for this.

AUDIT SCOPE

The activities in a period of time that are being audited.

AUDIT STRATEGY

The plan the audited party has for answering questions that may be asked in the auditing process.

AUDITEE

The business or individual that is being audited.

AUDITOR’S OPINION

An auditor’s statement in their reports. The three types are unqualified, qualified, or adverse. The company may have gotten an uncertified auditor that cannot access the information needed. They may have a

AUFSICHTSRAT

The SUPERVISORY BOARD of a German CORPORATION. See also VORSTAND.

AUGMENTED PRODUCT

A product that has products added to it to make more than one stream for revenue. Refer to agile product.

AUSTENITE

Any iron that has carbon or facecentered crystaline structures. It is named after Sir W. C. Roberts Austen. Refer to martensite.

AUSTENITIC STAINLESS STEELS

Anything with high levels of chromium and nickel. It is corrossion resistant, ductile, and weldable. It is the largest selling steel. It is used in heavy duty work. Refer to feritic stainless

AUSTERITY BUDGET

When a budget is decided by the government to reduce deficit. The goal is to cut comsumer spending.

AUSTRALIAN TRADE COMMISSION (AUSTRADE)

A government comittee that promotes Australian products to other countries. They also want to attract more business to the country. There are 100 offices in 63 countries that do this.

AUSTRIAN SCHOOL OF ECONOMICS

The idea that human effort must be driven through personal judgement not external force such as a government agency. Freedom, abolishing central banks, returning to the gold standard, no more bank deposit

AUTARKY

An economic system without any external trade, or one where trade is reduced or eliminated through barriers and quotas.

AUTHENTICATION KEY

A digital code used to keep electronic payments secure from any third parties. The amount, time, and date are used for this.

AUTHORING TOOL

A computer program that lets a user make their own web media and the tools needed to use it.

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