Business Glossary Post - Get 25 Points for Every Business Term and Meaning that You Post

This is just like the inspirational quote post, but with business terms. All you need is a word related to anything having to do with business and its definition or meaning. Feel free to grab words and their meanings from business dictionaries or just give your own interpretation.

Post as many unique words and their meaning as you can and get 25 points for every post.

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Example Post:

Accounts Receivable - amounts due the company on account from customers who have bought merchandise or received services.

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Permalink Reply by Greg on November 12, 2008 at 10:34pm: Horizontal merger
This is where two or more companies in the same industry merge. This get rid of competition and increases buying and selling power.; ▶ Reply to This

Permalink Reply by Greg on November 12, 2008 at 10:34pm: Human capital
The capabilities, expertise, skills and experience of individual.; ▶ Reply to This

Permalink Reply by Greg on November 12, 2008 at 10:35pm: Horizontal integration
This is where two business merge were they are at the same stage in the production cycle of an industry. i.e one car dealership takes over another car dealership.; ▶ Reply to This

Permalink Reply by Bel Marrero on November 12, 2008 at 10:36pm: Accounting controls:
Methods and procedures which an organization's management institutes to (1) safeguard assets, (2) authorize transactions, (3) monitor disbursements, and (4) ensure the accuracy and validity of accounting records; ▶ Reply to This

Permalink Reply by Bel Marrero on November 12, 2008 at 10:37pm: Indemnity
Undertaking given to compensate for (or to provide protection against) injury, loss, incurred penalties, or from a contingent liability. A shipping company, for example, will ask for a bank's indemnity for releasing a shipment to a consignee who has lost original shipping documents. The bank in turn will require the consignee to sign a counter-indemnity before issuing its indemnity to the shipping company. This way the consignee gets the release of shipment in completion of a transaction, and both the shipping company and the bank are protected in case some dispute arises out of that transaction.; ▶ Reply to This

Permalink Reply by Bel Marrero on November 12, 2008 at 10:38pm: Inflation
Sustained, rapid increase in the general price level, as measured by some broad index number of prices (such as Consumer Price Index) over months or years, and mirrored in the correspondingly decreasing purchasing power of the currency. It has its worst effect on the fixed-wage earners, and is a disincentive to save. Any price increase alone (such as due to a crop failure), however, is not inflation. It is because such increases are self-limiting in their effect, unless they cause an inflationary spiral in combination with factors such as wage increases, easier credit, or greater money supply. And because, economies in general show some increases in prices as they recover from a recession. There is no one single, universally accepted cause of inflation, and the modern economic theory describes three types of inflation: (1) Cost-push inflation is due to wage increases that cause businesses to raise prices to cover higher labor costs, which leads to demand for still higher wages (the wage-price spiral), (2) Demand-pull inflation results from increasing consumer demand financed by easier availability of credit; (3) Monetary inflation caused by the expansion in money supply (due to printing of more money by a government to cover its deficits).; ▶ Reply to This

Permalink Reply by Bel Marrero on November 12, 2008 at 10:38pm: Insolvent
Person or firm whose liabilities exceed the value of owned assets. It is commonly illegal for the directors of an insolvent firm to continue to trade after becoming aware of their insolvent position. If despite their knowledge of the firm's insolvent position they do not refrain from receiving goods on credit, they may be charged with fraudulent misrepresentation of facts and may become personally liable for the firm's debts. If a seller discovers the insolvent status of a buyer after making a sale, the seller can reclaim the goods within a certain period.; ▶ Reply to This

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Permalink Reply by Bel Marrero on November 12, 2008 at 10:39pm: Interchange
Standards based exchange of transaction data and money among banks participating in a bank card network such as those managed by Visa and MasterCard associations. It allows a cardholder to access his or her account from multiple ATMs and to make purchases at any participating merchants.; ▶ Reply to This

Permalink Reply by Bel Marrero on November 12, 2008 at 10:40pm: Acquittance
Full payment of a loan (or discharge of an obligation) evidenced by a document or receipt, such as satisfaction of mortgage issued by a lender (mortgagee).; ▶ Reply to This

Permalink Reply by Bel Marrero on November 12, 2008 at 10:41pm: Alienation clause
Insurance: Provision in general insurance policies that voids the cover if the policyholder sells the insured asset or property. The new owner must negotiate a new policy; ▶ Reply to This

Permalink Reply by Bel Marrero on November 12, 2008 at 10:41pm: Allonge
Slip of paper attached to a negotiable instrument (or contract) to receive additional endorsements (or signatures) after the space provided in the original document is filled.; ▶ Reply to This