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Advertisement Elasticity Advertisement elasticity of sales or promotional elasticity of demand is the responsiveness of a good?s demand to changes in rm?s spending or advertising. The advertising elasticity of demand measures the percentage change in demand that occurs given a one percent change in advertisement expenditure.
Abandonment The act of leaving a person or tuning with no intention of coming back. Acct. Voluntary surrender of property.
Abate To do away with. Acct. Complete or partial cancellation of a levy imposed by a govt.
Abbreviated shorten
Abeyance & Law A state of suspension.
Abolished to officially end a law
Abridges to make shorter.
Abrogate Repeal, annul. Law Abolish a formal law by an act of the legislative power.
Abscissa the co-ordinate that gives the distance along the horizontal axis.
Abscond To go away secretly. Law To hide away to escape arrest.
Abscond To leave secretly. Law To hide away to escape assest.
Absenting not present.
Absolute Complete. Math. Absolute number represented by figures such as 2, 3 or under-root 2. Absolute term in an expression- A term which does not contain a variable. Law Unqualified. Econ. - Absolute Monopoly - Entire output of a commodity or service in the hands of a single producer or supplier.
Absolved to state formally that a person is not guilty.
Absorbing Interacting or engrossing. Law To take in.
Abstinance to refrain from indulging in food, drink sex etc.
Abstract not practical. Math. Abstract Number ─ Any number without reference to any particular objects. A number which is not concrete. Law A summary
Absurd Ridiculous. Law Foolish.
Abuse Misuse
Accelerate to increase speed.
Access Means of approaching.
Accidental Happening by chance; not planned.
Accommodates Oblige; to provide with in a room to sleep, live or sit; to consider. Law Oblige; to provide with in a room to sleep, line or sit; to consider.
Accommodation Bill Law A bill made, drawn, accepted or endorsed by one person for another without consideration to enable the other to raise money.
Accompany to go with or to travel; to happen.
Accomplish To fulfill. Law Accomplishment of Purpose ─ the fulfillment or completion of an object/purpose.
Accomplishment Achievement.
Account Amt. of expense that must be recognised currently when the exact amt. of expenses not known Law a condition or arrangement in a legal document; a rule.
Account To consider. Econ. A stock exchange term which refers to the period during which financial transactions takes place. Acct. Systematic arrangement showing the effect of transactions and other events on a balance sheet or income statement. Law- A statement of moneys received and paid.
Account payable Acct. Obligation to pay for goods or services that has been acquired.
Account receivable Acct. Money that is owed to a company.
Accountability Responsibility.
Accounting Costs Accounting costs relate to those costs which involve cash payments by the entrepreneur of the rm. These are explicit cost and are the expenses already incurred by thefirm.
Accredited Generally accepted. Law furnished with evidence of a person's achievements or trust worthiness.
Accrue Accumulate. Law to come into existence as an enforceable claim.
Accrue Increase over a period of time. Acct. Accrual Accounting ─ recognition of revenue when earned and expenses when incurred.
Accrued Expenses Incurred at the end of the reporting period but not paid. Accrued liabilities Same as Accrued Expenses. Accrued Revenue: Money earned but not received. Law To fall as a natural increment.
Accumulate To heap up. Math. The accumulated value is the sum of compound amounts of the annuity payments. Acct. Process of compounding. Accumulated depreciation - sum of depreciation charges taken to date.
Accumulation a man to build up. Acct. Cumulative relative profit.
Accuracy the state of being connect. Acct. Correctness of an accounting item. Q.A. Corrective referring to numeric calculation.
Accuse To blame. Law To change with an offence.
Achieve to attain; Accomplish.
Acknowledgement to admit as true; to give receipt for.
Acquaint To make familiar with.
Acquiesce To give silent or passive assent to.
Acquisition The act of getting or of becoming the owner of any property.
Acquit To set free. Law To set free from the charge of an offence.
Action Performance. Law A deliberative or authoritative proceeding.
Actuarial It is usually associated with calculation of insurance risks and payments for Insurance Companies. Acct. Actuarial basis of Accounting ─ used in computing the contributions to be made periodically to a pension fund.
Actuary A person whose job involves calculating insurance risks and payments for insurance companies
Adapt To make suitable.
Adequate Fully sufficient. Law Lawfully and legally sufficient. Acct. Comprehensive and clear disclosure in the financial statements.
Adhoc Not planned in advance.
Adjacent Next to or near. Q.A. Two angle having common side & common vertexlying on apposite sides of the common side.
Adjudge To decide Law To decide judicially.
Adjustment a small change made in order to connect something Acct. Increase or decrease to an amount.
Administered Managed.
Administration activities that are done in order to plan; organize or run a business. Law Management.
Admiral Chief Officer of a fleet.
Admissible allowed or accepted specially in count.
Admit To agree. Law To accept as true for the purpose of consideration.
Admitted To confers.
Adoption the decision to start using an idea; a plan or a name act of adopting a child.
Adulterate To make food or drink impure. Law To corrupt.
Advance To proceed. Law Money paid before the same is completely payable. Acct. (1) Prepayment received for goods or services. (2) Money paid to an employee before earned.
Adverse negative and unpleasant. Law Acting in a contrary direction.
Adverse Negative; unpleasant. Law Opposing. Econ. Adverse balance of payment: Excess of payments over receipts.
Affairs Events that are of public interest. Laws Business of all type.
Affected not natural or sincere.
Affecting Producing story feeling of sadness.
Affiliated closely connected to.
Affirm To state firmly that is true. Law To make a solemn affirmation.
Affirmative Positive.
Affixed to stick.
Afford To have enough money or time to buy or do anything. Law Provide.
Aforesaid mentioned before.
Ageing Accounts Classifying accounts on the basis of time elapsed after the date of billing or the due date.Process of growing old.
Aggravate Worsen.
Aggregate total number; all added together.
Aggregative Sum total.
Aggriered Felling that you have been treated unfairly.
Agrarian connected with farming.
Algebra A branch of mathematics is in which letter and symbol are used to represent quantities. Q.A. A branch of mathematics is in which letter and symbol are used to represent quantities.
Alien Hostile strange. Law Foreigner.
Alienate To make less friendly towards you. Law To transfer one's interest to another.
Allegation Accusation Law An assertion in without proof.
Alleged To state as a fact but without proof. Law Asserted.
Allegiance A person's continued support for a political party, religion, ruler etc; loyalty.
Alleviation ease; to make less severe.
Allot To give time, money tasks as a share of what is available. Law To assign shares authoritatively
Allotment Share distributed. Acct. Part of an appropriation that may be expended.
Allowance Rebate. Acct. Acceptable reduction in quantity or quality, amt. that is allowed for e.g.: allowance to reduce marketable securities from cost to market value. Law Sum granted as a reimbursements for any purpose.
Alternative Option; choice between two.
Amalgumate Merge. Econ. Merge.
Ambiguous Not clearly stated. Math. Not determinable. Law open to more than one interpretation.
Ambit The range of authority. Law Circuit; compass.
Amelioration To make better.
Amenable Easy to control.
Amendment The process of changing a law or document. Law Same as G.M.
Amenities feature that makes a place pleasant. Law same
Amongst in the middle of; surrounded by
Amortisation Wiping out. Econ. To pay back a debt by making small regular payments over a period of time. Law Gradual extinction of a debt. Acct. Gradual reduction of an amount over a period of time.
Amortized to pay back a debt by making small regular payments more period of time. Econ same as G.M. Acct. To write off a portion of assets not over period of time.
Amputation To cut off.
Analytical using a logical method of thinking in order to understand.
Ancillary Auxiliary Law related & supplementary.
Annex To join, to add
Annual & Law To make void or of no effect; to nullify.
Annual Accounts Accounts prepared for a financial year.
Annuity A fixed amount of money paid each year. Acct. Series of equal periodic payments. Math. A series of payments at regular intervals. Law Yearly grant.
Anomalous different from what is expected; irregular.
Antecedent thing or an event that exists. Q.A. The first term of a ratio.
Anti-logarithm inverse logarithm. eq. anti log102 = 100
Anticipated to expect.
Anticipation a feeling of excitement that something is going to happen. Law A prior knowledge.
Anticipatory Bail Law Bail in expectation of being imprisoned.
Apparent obvious seeming Q.A. Angular distance between two prints.
Appeal To attract; or a urgent request. Law A formal request to a court for a judgment or decision to be changed.
Appear Seem Law To present ourself formally before a tribunal.
Appellate Court A court in which people can appeal against decisions made in other courts. Law Same.
Appending to add to the end of a piece of writing.
Apportionment To divide.
Appraisal A judgment of performance. Acct. Estimate of the value of an asset.
Appraised to examine or to consider.
Appreciate to recognize; to realise Acct. increase in value of an asset.
Appreciation Recognition Econ Increase in value of an asset.
Apprentice A learner.
Appropriate Suitable.
Appropriation The act of keeping or saving money for a particular purpose. Acct. Distribution of net income to various accounts. Law To assigns for a special purpose.
Approval Sanction.
Approximate Almost covert.Q.A. To calculate nearest to a correct value.
Arbitrage Practice of buying shares in one place and selling it in another place where the price is higher.
Arbitrary absolute; not seeming to be based on a reason. Law Depending on will.
Arbitration The official process of setting an arrangement. Law determination of a matter in dispute by the judgement of one or more persons.
Architecture The art and study of designing buildings.
Argue To speak angrily because of disagreement.
Argument Debate; The art of disagreeing in a conversation. Q.A. Amplitude of a complex number.
Arithmetic A branch of mathematics that deals with the adding multiplying etc of numbers. Q.A. The study of the positive integers.
Arithmetic progression A series of numbers that decrease or increase by the same amount each time Q.A. A sequence, each term of which is equal to the sum of the preceding term and a constant
Arrangement plan or preparation Law Settlement of mutual relations; claims or matters in dispute. Q.A. Same as permutation.
Arrears Late payment of money that you owe. Acct. Past due payments.
Arrive to get to a place.
Ascendant Becoming more powerful or popular. Law One who preceedes in geneological order.
Ascending rising; going up Q.A. Powers of the variable that increase as the terms are counted.
Ascertaining To find out the true or correct information.
Assault Attack.
Assemblage a collection of things.
Assembly The meeting together of a group of people for a particular purpose.
Assessment Evaluation Acct. Process of making an official valuation of property. Law to transfer.
Assign To give some work or responsibility
Assign To provide a person in the some work or responsibility or position. Law To transfer some interest.
Assignment a task Law The action of assigning; the document effecting an assignment. Assistance Support
Associate Mix; to make a connection between people or things in your mind; a partner. Q.A. In a commutative semi group or ring associates are member a and b.
Association Organisation
Assume To take for granted.
Assumption A belief that something is true or that 5th will happen. Q.A. A statement accepted without proof.
Assurance guarantee, promise, confidence. Q.A. Same as insurance.
Asymptomatic having no symptoms.
Asymptotic Q.A. Directions at a point p on a surface s for which D du2 + 2D' dudv + D" dv2 = 0 Asymptotic directions at P on S are the directions at P on S in which the tangent plane at P has contact of at least the third order.
Asyum refuge; hospital for mentally ill.
Atomic connected in the atoms.
Attach To fasten. Law To seize by authority.
Attainment Something that you achieved.
Attempting An act of trying to do.
Attest To prove that it is true. Acct. Formal statement by an auditor as to whether financial statements fairly present financial position and operating results.
Attract to draw to.
Attributable Caused by the thing mentioned.
Attribute to ascribe, characteristic quality.
Auction Public event at which things are sold to the person who offers the most money for them.
Authenticity The quality of being genuine.
Authorise To give official permission.
Authoritative showing that you expect people to obey and respect you.
Authority Paver; expert. Law A legal power.
Autonomous Demand Autonomous demand is quantity being demanded when income equals zero.
Avenues A street in a town; a hotel; a way of making proper towards 5th.
Average (1) normal; ordinary not special; (2) Calculated by adding several omits together, finding a total, and dividing the total by the number of omits. Acct. Mean Law, Same as Q.A. Same gen meaning/as Mean
Average cost The result of adding several amounts together, finding a total and then dividing the total by the number of amounts. Econ. Total cost divided by the number of units produced.
Average Product Average product is the total product per unit of the variable factor.
AverageRevenue It is the revenue earned per unit of output. It is nothing but the price of one unit of output.
Avoid To prevent something bad from happening. Law To escape.
Awaiting to wait for.
Axioms A rule which most people believe to be true. Math. Axioms of a mathematical system are the basic proportions from which all other proportions can be derived. Law Widely accepted principle.
Backward Retrograde.
Bad debts A debt which is unlikely to be paid. Acct. Account receivable that is entirely or partially uncollectible. Acct.
Bail & Law Temporary release from imprisonment on furnishing security to appear for trial.
Bailee Acct. Receiver of goods. Law Same.
Balance Sheet Statement showing company's Financial position as on a given date. Acct. Same.
Ban Prohibit.
Bandwagon Effect The bandwagon effect is a psychological phenomenon in which people do something primarily because other people are doing it, regardless of their own beliefs, which they may ignore or override.
Bank An organisation that mainly provides for keeping and lending money. Econ. An institution dealing in money. Law Any establishment which carries on the business of banking.
Bankrupt Insolvent. Econ. An individual or company is unable to meet its debts on due dates. Acct. Bankrupt (Business) A situation in which a business debt exceeds the fair market value of its assets. Law The statutory procedure by which a person is relieved of most debts and undergoes liquidation.
Barge Push; boat used for carrying goods and people on rivers.
Barred Excluded or prohibited.
Barter To exchange goods, property etc. for other goods, etc. without using money.
Batch Group.
Baying exp except for.
Bearer A person who beings a letter, message. Law one who possesses a negotiable instrument Econ. One who carries.
Bearing Conduct; behaviour; the way in which something is selected to; part of a machine that supports a moving part Q.A. The angle which the line makes with the north and south line
Benami Law Not real.
Benchmark a standard with which other things can be compared with. Acct. learning from others also called competitive.
Beneficiary A person who gains. Law A person who receives benefits under a trust, will etc. Acct. Individual who will receive an inheritance upon the death of another. Math. The one to whom the amount guaranteed by the policy is to be paid.
Bequeath To leave a (personal estate) by will.
Besiege To surround.
Bestan To give or confer
Bestow To give or confer.
Beta The second letter of the Greek alphabet (B, β) Math.Same Acct. Measure of systematic or undiversifiable risks of a stock.
Betrothal Engagement.
Beyond Out of reach; at farther side of
Bid Tender, to offer to pay a particular price at an auction.
Bigamy Entering into marriage with another person when still legally married to one person.
Bilateral Monopoly It is a market structure in which there is only a single buyer and a single seller i.e. it is a combination of monopoly market and a monopsony market.
Bill of Exchange A written order to pay a sum of money to a particular person on a particular date. Acct. Draft.
Bind Tic with page, the force to do.
Block Obstacle; solid Material.
Bodily relating to body.
Body Corporate "Body corporate broadly means a corporate entity which has a legal existence. The term "body corporate" is defined in Section 2(11) of the Companies Act, 2013. This includes a private company, public company, one personal company, small company, Limited Liability Partnerships, foreign company etc."
Bonafide Real or legal. Law in good faith.
Bond Strong connection. Law Legal agreement. Econ. Certificate issued by a government or company promising to repay borrowed money at a fixed rate of interest. Acct. Written promise by a company, govt. to pay full amount at the maturity date.
Bonus An extra amount of money added to wages as a reward.
Borderline The division between two qualities or conditions; not clearly acceptable
Borrower A person or an organization that borrows money.
Borrowings Money that a company or a person borrows
Brace Package of light material exp. hay, straw, cotton, wool etc.
Breach Break. Law Failure to observe law, contract.
Breadth Width; broadness
Break Damage; destroy.
Break-even point Acct. Point where neither profit is earned nor loss is incurred, i.e. Zero profits.
Bridge Structure carry in road across stream; bony part of nose.
Brief Short. Law Summary of acts and points of law draw up for counsel incharge of a case.
Broad band Signals that use a wide range of frequencies; a way of connecting a computer to the internet.
Broadly Generally; without considering details.
Brokerage Commission paid to a broker
Budget Amount of money available that can be spent on over a period of time. Acct. Quantitative plan of activities and programs expressed in terms of assets, liabilities, revenues and expenses. Econ. It is an estimate of income and expenditure for a future period.
Bulk Size, magnitude; huge body, volume
Bureaucracy Govt. through officials.
Business Cycle The rhythmic fluctuations in aggregate economic activity that an economy experiences over a period of time are called business cycles or trade cycles. A typical business cycle has four distinct phases namely Expansion, Boom, Contraction, Trough.
Business Economics The use of economic analysis to make business decisions involving the best use of an organization?s scarce resources.
Buy-back Acct. Repurchase of shares.
Buyer A person who buys. Law A purchases, customer,
By product Product that is produced during the process of making another product. Acct. Items produced that has a relatively low sales value in comparison with the firm's main or joint product. Law A secondary result.
Calibre Ability, worth; standard
Camouflaging A way of hiding soldiers & military equipment.
Capital Capital is that part of wealth of an individual which is used for further production of wealth. Capital is a stock concept which yields a periodical income which is a flow concept.
Capital Money that is invested or is used to start a business. Acct. Difference between Assets & liabilities. Econ. Stock of goods used in production.
Capital Budgeting Monetary value of the expected benefits and costs of a project.
Capitalisation To use as capital. Acct. Same as G.M. Econ. Additions to capital made by different means.
Capitalise To sell possessions in order to convert them into money. Acct. Change an expenditure to an asset amount because the benefits derived from it is of an enduring nature.
Capitalist Economy An economic system in which all means of production are owned and controlled by private individuals for profit.
Cardinal A cardinal utility function or scale is a utility index that preserves preference orderings uniquely up to positive affine transformations.
Cardinal A priest of highest rank, most imp. Math. Cardinal Number number such as 1,2,3 used to show quantity Law Cardinal principle of prime importance.
Carrier Appliance for carrying luggage; one who carries goods.
Carrying cost Accounts expenses incurred because a firm keeps inventories e.q. taxes, insurance, storage cost etc.
Cartage carting or its hire.
Cartel Cartel refers to a group of firms that explicitly agree to coordinate their activities.
Cash flow Movement of money into and out of a business as goods are bought and sold. Acct. Cash receipts minus cash disbursements.
Cash Reserve Ratio Econ. That portion of total deposits which a commercial bank has to keep with the central Bank in form of cash reserves.
Casually Accidently without care, not formal
Casualty An unfortunate occurrence.
Caveat Emptor Law Let the buyer beware in the person who buys the goods is responsible for finding any faults in the things they buy.
Ceiling Roof; top surface of room Acct. Amt. equal to net realisable values
Census Official numbering of people
Cereal Any kind of grain used as food.
Champerty Law Assistance to any person in action or suit upon condition to have paid of the things when recovered
Charge Amount of money that is required for goods supplied and service rendered e.g. admission charges or rate. Acct. Debit to an account. Math. Coulomb's law for point charges in electrical charge. Law (1) Claim or lien on property. (2) Accusation of a crime.
Charitable Helping people who are poor and needy.
Chartered Accountant Certified and qualified Accountant.
Chronic Deep seated; lastings for a long time.
Chronological Arranged in the order in which they happened Law According to the order of time
Circulation Movement in a circle; sale of newspaper Law Passing from hand to hand
Circumference The line that goes around a circle. Math. (1) The length of a circle. (2) The boundary of any region (e.g. a polygon)
Circumstance Conditions and facts that are connected with and affect a situation, logical details of event.
Claim Demand as one's own right
Clerical Connected with office work; pertaining to clergy.
Clustering To come together in a small group or groups. Q.A. Accumulation point.
Co herently Consistent, logical & well organized
Co-efficient A number which is placed before another quantity and which multiplies it ; a number that measures a particular property of a substance. Q.A. Numerical part of a term written before the literal part as2 in 2 x.
Co-exist To exist together
Co-existence State of being together.
Co-ordinate To organize the different part of an activity and the people involved in it. Q.A. One of a set of numbers which locate a point in space
Co-variance Q.A. The first product moment about the means of two random variables X & Y
Coalition Govt. formed by two or more political parties working together; temporary combination between two groups Q.A. In an person game, a set of players, more than one in number.
Coastal Of or near a coast
Coercion & Law The application of force as to stop him to do against his will something he would not otherwise have done.
Cognizance Knowledge; notice Law Legal right to deal with a matter; jurisdiction
Cogs Tooth of wheel
Coincided To take place at the same time. Math. Coincident-Two lines which have the same equation are coincident.
Collaborate To work together
Collaboration Joint Labour. Law Working in combination.
Collapse To fall together; give way
Collateral Property or valuables that you promise to give to if you cannot pay back that you borrow, side by side; indirect. Acct. Same as G.M. Q.A. Same as G.M.
Collateral security Property or valuable that you promise to give if money is not paid back that you borrow. Law security given in addition to the direct security.
Collected Composed
Collusion Secret agreement in order to do something dishonest or to trick people.
Collusive Oligopoly Collusive oligopoly is a form of market in which few firms form a mutual agreement to avoid competition.
Commence To begin, to originate
Commercial Bank A bank authorized to receive deposits, operate savings or current accounts, make loans to private or public firms or individual and to provide many more commercial services.
Commission Official group of people given responsibility to control. Law The committing (of a crime etc.) Math. A fee charged for transacting business for another person. (agent's remuneration)
Common wealth republic
Community Association, body of people
Compact Condensed; closely packed together. Law A formal agreement bet. Two or more parties, states etc.
Compelled To force
Compensate To make up for
Competition rivalry Econ. Competition is said to take place when there operates the market a large number of buyers and sellers.
Competitive Oligopoly A competitive oligopoly is a market that is dominated by only a few large firms. These firms prefer not to compete via price wars and therefore compete in various other ways, such as advertising, product differentiation and barriers.
Complaints Ailment accusation
Complementary Tending to complete Q.A. Two angles whose sum is a right angle.
Compliance Acting in accordance with
Complicated To entangle
Complication Complicated situation
Component Forming part of whole Q.A. Component of a set of points a subset which is connected and is not contained in any other connected subset of the given set of points
Compound To combine. Acct. Compounding is interest on interest. Compound journal entry is more than one debit or credit in a journal entry. Math. Compound member ─ The sum of two or more denominations of a certain kind of denominate number. e.g. 5 feet, 7 inches. Law- To stop from prosecution for consideration or any personal motive.
Comprehensive Extensive.
Compromise To settle by mutual consent
Compulsory Obligatory
Computation Estimate
Compute To value Q.A. Calculate
Concealment Secrecy
Concentrate To fix attention
Concerned Troubled
Conclusive Decisive
Concurrent Existing or happening at the same time Q.A. Having a point in common.
Condensed To compress
Condition State, provision circumstances Q.A. A mathematical assumption or truth that suffices to assure the truth of a certain statement or which must be true if this statement is the.
Conditional Depending on conditions
Conduct To direct; to organize, to lead, to guide
Conductive Having transmissive power
Conferred To discuss; to grant; to consult.
Conflict Clash
Congestion Over crowded
Conglomerate A large company formed by joining together different firms.
Connivance Help in doing something wrong pretence of being unaware
Consecutive Following one after another in a series Q.A. Following in order in that jumping
Consensus Opinion that all members of a group agree with
Consent Permission
Consequent Resultant Q.A. The second term of a ratio; the quantity to which the first term is compared
Conservatism Law Presentation from loss, waste, injury, decay. Acct. Understatement of assets and revenues and overstatement of liabilities and expenses.
Considerably Significantly
Consideration Act of carefully thinking. Law A reward or payment for a service.
Consign To transmit; to entrust to
Consignee A person to whom goods are consigned.
Consignment Quantity of goods that are delivered. Acct. goods sent to another on the basis that it will be sold on behalf of and at the risk of the former.
Consignor A person who sends goods to another for him to sell.
Consist Composed of
Consistency The quality of behaving in the same or having the same opinions. Acct. Uniformity of accounting procedures
Consistent Agreeing, uniform Q.A. Assumptions, hypotheses, postulates that do not contradict each other
Consolidate To unite; to make a position of power or success stronger.
Consolidated Accounts To combine. Acct. Presentation as one economic entity of the earnings of a parent and its subsidiaries.
Consonant A letter which can not be sounded without the help of a vowel ex b, c, d, f, etc.
Conspicuous Conspicuous consumption is the spending of money on and the acquiring of luxury goods and services to publicly display economic power?of the income or of the accumulated wealth of the buyer.
Constituent Component part
Constituted Setup, establish
Constrained Not natural, forced or too controlled
Constraint Compulsion; restriction. Acct. Explicit limitations.
Construct To build; to put together, to draw Q.A. To draw a figure so that it meets certain requirements
Construction The process or method of building or making esp. roads, buildings, bridges etc. Law The constructing explaining or interpreting of a text, statement, action or words etc. Q.A. Same as construct.
Consultancy Expert advice that a company or person gives on a particular subject and is paid for
Consultation Act of discussion Law Taking counsel.
Consumer Goods Those goods which are used for final consumption.
Consumer Surplus It is defined as the excess of price that the consumer is ready to pay from which he actually pays.
Consumer's surplus Econ. Excess of the amount a consumer is prepared to pay for a product over the amount he actually pays for it.
Consumes To spend, to destroy; to eat or drink.
Contain To hold; to include; restrain
Contemplate To consider; to meditation
Context The words that come just before and after a word in a book.
Contingency Possibility Acct. Contingent Asset item that depends on some future happening which may or may not happen .
Contingent Accidental; dependent on; a group of people at a meeting or an event who have 5th in common specially the place they come from. Acct.
Continuous Uninterrupted
Contra Against; opposite Acct. Revise account reduction to the gross cost of an asset to arrive at its net cost.
Contra accounts Opposite Acct. reduction to the gross cost of an asset to arrive at its net cost, Reverse Account.
Contraceptive A drug, device or practice used to prevent a women becoming pregnant.
Contract Written agreement.
Contraction The process of becoming smaller. Econ. Contraction in demand When as a result of increase in price, quantity demanded decreases it is contraction in demand.
Contraction A contraction is a phase of the business cycle in which the economy as a whole is in decline.
Contradictory Conflicting; mutually inconsistent
Contrary Opposite
Contravention Infringement, opposition
Contribution Donation Acct. Difference between sales and the variable cost of a product. Law Proportionate discharge of liability of properties jointly liable.
Contrived Planned in advance and not natural or genuine; to bring about
Convenience Suitableness; comfort
Convenient Useful; suitable; easy or quick to do
Conversant Familiar with
Converse To talk together; the opposite or reverse of a fact Q.A. The theorem resulting from interchanging the hypothesis and conclusions
Conversion The act or process of changing 5th from one form to another Acct. Valuation substitution for another
Convict To decide and state officially in court that subject is guilty of a crime; condemned criminal
Corporate Connected with a corporation
Corporation A large business company
Correction Amendment; A change that makes 5th more accurate than it was before
Correctly Rightly; Perfectly
Correlation A connection between two things in which one thing change as the other does; mutual relation Acct. Degree of relationship bet. business and economic variables such as cost & volume Q.A. A linear transformation which in plane,carries points into lines and lines into points; an interdependence bet. random variables or bet. sets of numbers.
Correspond Agree, tally, equivalent
Corroborative Giving support to a statement or theory
Corrupt To make or become foul; to inject; to bribe; dishonest or immoral behaviors
Cost Analysis The study of behavior of cost in relation to one or more production criteria, namely, size of output, scale of operations, prices of the factor of production and other relevant economic variables.
Cottage Small house
Counsel Advice, pleader
Covenant Agreement; bargain
Credit Pay later for what you buy; loan, money in bank; right to a payment. Acct. entry on right side of the account. Law Reputation of honesty and solvency in business. Econ. Same as.
Creditor Person the whom money is owed for credit extended. Acct. same.
Cross Demand It refers to the quantities of a commodity or service which will be purchased with reference to changes in price, not of that particular commodity, but of other inter-related commodities, other things remaining the same.
Cross Elasticity A change in the demand for one good in response to a change in the price of another good represents cross elasticity of demand of the former good for the latter good.
Cross-hatched To mark or colour 5th with two sets of parallel lines crossing each other
Cross-section What you see when you cut through the middle of 5th so that you can see the different layers it is made of Eco Cross section analysis analysis of statistical data relating to the same time, period Q.A. - Cross section of an area or solid - A plane section perpendicular to the axis of symmetry or to the longest axis, if more than one.
Crucial Decisive; critical
Crystallise To form crystals; to become clear & fixed
Cube root A number which when multiplied by itself twice, produces a particular number. Q.A. A quantity whose cube is the given quantity.
Cubic equation Q.A. Is an equation of the third degree such as 2x3 + 3x2 + x + 5 = 0
Cultivated Cultured; land used to grow crops.
Cumbersome Difficult to carry; bulky
Cumulative increasing by successive additions
Current Asset Acct. Item having a life of one year or less.
Current Liability Acct. Obligation payable within one year.
Curriculum Course of study
Curtail to cut short
Curvilinear Consisting of a curved line or lines
Cutthroat Competition In which people compete with each other in aggressive and unfair ways.
Cyclone A violent tropical storm in which strong winds move in a circle.
Damage Harm or spoil, hurt. Law Loss or injury.
Day Book Acct. Record of day-to-day business transactions.
Debar Prevent from doing. Law To exclude from admission or sight.
Debate Argument, discuss.
Debentures A bond acknowledging sum on which interest is due. Acct. Same as G.M. Econ. Same as G.M.
Debit A written note in a bank account of a sum of money owed or spent a sum of money taken from a bank account. Acct. An entry on the left side of an account.
Debt Money that is owed.
Debtor One who owes a debt.
Debtor Acct. A person, that owes money.
Decagon Plane figure bounded by ten lines. Q.A. Same as G.M.
Deceased Dead.
Deceit Dishonest behaviour. Law Tort.
Decelerate Slow down Q.A. Negative acceleration
Decent Of a good standard.
Decentralization Transference of central govt. to a local one Acct. Delegation of decision making to the subunits of an organization. Econ. Decentralization of industry means setting up of industries in scattered regions.
Deciles Ten equal groups in which a collection of things or people are divided according to the distribution of a particular variable.
Decimal Of tenths
Decision Making It is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.
Declaration A formal statement.
Decline To bend; to fall
Decomposed Decay; to rot
Decree & Law A decision made in the court.
Deduct Substract.
Deduct To substract
Deed Act. Law An instrument in writing effecting some legal disposition.
Deface To damage the appearance.
Defalcation & Law Misappropriation of money.
Defamatory Injurious to reputation
Default Failure to do. Acct. Failure of a debtor to meet principal or interest payment on a debt at the due date.
Default Failure to perform a duty; defeat Acct. Failure of a debtor to meet principal or interest payment on a debit at the due date. Law To frustrate.
Defeat To beat law. To frustrate.
Defect Not perfect. Law Defect in title To defeat title.
Defective Faulty
Defend Protect against attack; support Law Address the court etc. in defence of.
Deferred Tax Acct. When taxable income exceeds book income as a result of temporary difference in the recognition of income and expense items.
Deffered To delay; to put off Acct. Expenditure incurred having future benefit in excess of one year.
Deficiency Shortage, to
Deficits Econ. An excess of liabilities over assets or of an expenditure flow over an income flow. Law A deficiency in the amount or quality of something.
Deflation Let air or gas out Econ. A reduction in the amt. of money in the country economy so that prices fall or remain the same
Deflation Econ. A reduction in general level of prices.
Defray To give back the money which has been spent.
Degradation Decay; disgrace
Dejure & Law According to law.
Del Credere Acct. Additional commission
Delegate To give part of your work, power or authority to lower positing to assign.
Deliberate To consider carefully, to think; intentional planned.
Delineate To describe in detail.
Delivery Childbirth; discharge; manner of speaking; distribution.
Delve Dig; to search for
Demand The various quantities of a given commodity or service which the consumers would buy in one market during a given period of time, at various prices, or at various incomes, or at various prices of related goods.
Demand Draft Acct. A within order to a bank to pay money to the bearer.
Demand Forecasting It is the art and science of predicting the probable demand for a product or a service at some future date on the basis of certain past behavior patterns of some related events and the prevailing trends in the present.
Demerger To separate a company.
Demerit Disadvantage, fault.
Demographics Data relating to the population. Econ. Demography is the science of population growth statistics.
Demography The study of statistics such as births, deaths, income, or the incidence of disease, which illustrate the changing structure of human populations.
Demography & Econ. Changing number of births, deaths diseases etc. in a community over a time period.
Demolish To pull down a building.
Demonstrate To show practically; to prove.
Demotion Reduced to a lower rank.
Demurrage Acct. Amount payable to ship owner by charterer for failure to load or discharge ship writhin the time given.
Denial Refusal Law Act of denying.
Denominator Number below the line in a fraction showing how many parts the whole is divided into
Denoted Indicated; represented.
Density Closeness of substance; denseness Q.A. The mens or amt of matter per unit volume
Density Thickness, degree of compactness. Math. The mass or amount of matter per unit volume.
Departure Act of leaving a place. Q.A. Departure between two meridians on the earth's in surface.
Depicts To describe; to picture
Deplete To reduce by a large amount.
Deployment To spread out especially soliders or weapons into a position where they are ready for action
Deport To force to leave a country.
Deported To exile;
Depreciation Diminution in the utility or value of an asset.
Deprivation Not having enough.
Depute Delegate.
Derelict In bad condition; vagrant; ownerless.
Derived Demand A demand for a commodity, service, etc. which is a consequence of the demand for something else.
Derogate To lessen in value.
Derogatory Insulting.
Description To write about; to give account of.
Designated To specify; to name
Desirable Worth in suing for.
Desirable Worth wishing for
Desist To stop from doing.
Despite In spite of
Destitute Without money, food and other things necessary for life.
Destroyed Damaged badly
Destruction ruin
Detain Law To keep in custody.
Detect To discover or notice.
Deter To keep away from doing something through fear.
Deteriorate To become or make worse
Determinants A factor which decisively affects the nature or outcome of something.
Devaluation Econ. Reduction in money Value of one country when it is exchanged for the money of another country.
Developed In an advanced state
Developing Economy Making its industry and economic system more advanced.
Deviate To do in a different way; diverge. Math. Deviation The difference between the value of random variable and some standard value, usually the mean.
Deviations Difference from what is normal or acceptable. Stat. The difference between the value of a random variable and mean. Law Sudden change in direction.
Devolve To pass from one person to another e.q. property money, power, responsibility etc.
Devoted Having great love for & being loyal law. dedicated
Diagonal Straight line joining two opposite angles of any sect lineal figure Q.A. A line connecting two non adjacent vertices
Differed Expenditure Acct. Expenditure incurred having future benefits over a period of time that is capitalised to an asset account.
Differentiation Discrimination
Difficulty A problem, obstacle
Diligence Careful & thorough work or effort
Diluted To make a fluid thinner by adding water
Dimension Length extent; size Q.A. Length, area volume
Diminish Decrease.
Diminishing Return Econ. . In stage 2 both the average and marginal products of the variable factors continuously fall during this stage and total product continues to increase at a diminishing rate until it reaches its maximum point.
Diminishing Returns It is the decrease in the marginal output of a production process as the amount of a single factor of production is incrementally increased, while the amounts of all other factors of production stay constant.
Diminution Lessening, degradation
Direct Labour Acct. Directly involved in making the product.
Direct Material Acct. Material which becomes an integral part of the finished goods.
Direct Tax Tax collected directly from the person who pays it ex. Income tax.
Disbursement Paying out Acct. Payment by cash or by cheque
Discard To get rid of.
Discharged To withdraw; to release; to dismiss; to give official permission to leave a place, job
Disclaim Deny.
Discontentment Dissatisfaction
Discount Reduction. Law Deduction from the nominal value.
Discrete Separate; distinct Q.A. Discrete set. A set that has no accumulation points.
Discretion Prudence; Judgment; freedom or power to decide what should be done in a particular situation.
Discretionary Power to decide within the limits allowed by rule of law.
Discriminately To distinguish between.
Discrimination Judgment; practice of treating less fairly than others
Discuss To debate; to talk about Law To exchange views.
Diseconomies An economic disadvantage such as an increase in cost arising from an increase in the size of an organization.
Disguise Conceal; misrepresent. Econ. Disguised unemployment A potential addition to labour force which may not reveal it self
Disguised Change your appearance so that people cannot recognize you Econ. Disguised.
Dishonour Loss of respect. Law Refuse to pay a bill of exchange.
Dishonoured disgrace; shame
Disinclination Lack of willingness to do
Disinfectant A substance that frees from infection
Disinvestments Econ. Selling of govt's share to private sector.
Dismantle To take apart so that it is in separate prices; disassemble.
Dismiss Wave aside Law To remove from office.
Disparity Difference.
Dispatched To send on evend, settle.
Dispensary A place where patients are treated; a place where medicines are dispensed.
Dispense To distribute; to do away with.
Dispose To transfer by settling; to settle; to arrange a matter.
Dispute To argue, to discuss.
Disseminate To spread.
Dissemination To spread knowledge, information.
Dissent Disagreement with an opinion.
Dissolution The act officially ending a marriage, a business agreement
Distant Far off; remote
Distinction Difference; excellence.
Distinguished Very successful and admired by other people; eminent.
Distortion Crooked; to misrepresent
Distrain Law To seize by force.
Distress Hardship; suffering.
Divergence Proceed to different directions Q.A. The property of not being conveyent.
Diversification To modify; to branch out
Divert Distract; deviate.
Dividend Acct. Amount of profits that a company pays to the shareholder of that company. Math. A quantity which is to be divided by another quantity.
Doctrine Belief.
Domain Area of knowledge, activity, territory; estate; scope Q.A. A field, as the number domain of all rational numbers, or of all real numbers; Any open connected set that contains one point.
Domestic Belonging to the household.
Domicile Place of permanent residence.
Domicile Place where one lives.
Dominant Powerful; very in fluential.
Donation Gift, present
Dormitory A room for several people to sleep in.
Doubtful Uncertain; ambiguous
Draw back Disadvantage Acct. Refund of duties paid on imported merchandise when the importer instead of selling it, re-exports it.
Drawer A person who writes a cheque; a part of a piece of furniture.
Drawer A piece of furniture such as desk. Acct / Law A person who writes a cheque.
Drawing Act of pulling, sketch Acct. Drawing account Provision accounting a personal with drawl of cash.
Drawings Acct. Personal withdrawl of cash by the owner from the firm.
Dredging To remove mud, stores etc.; to manage to remember.
Dropout To no longer take part in or be part of something
Drunken Intoxicated
Due Owing; caused by
Duly In connect or expected manner.
Dummy A model. Law A party who has no interest in a transaction but participates to achieve a particular goal. Acct. Dummy activity Fictitious activity.
Dumping Throwing down; to sell at low price. Econ. Sale of any commodity in a foreign market at a price below the marginal cost
Duopoly A subset of oligopoly, is a market situation in which there are only two rms in the market.
Duty, Advalorem & Law & Math A duty which is a certain percent of the value of the goods.
Dynamic Relating to force or progress
Eclipse Obscuring of light of heavenly body by interposition of another; loss of power; partial loss of light.
Ecological Connected with the relation of plants and living creatures to each other.
Econ. Fall in exchangeable value of money.
Econ. It is a situation where rapid inflation is accompanied by stagnating or declining output & employment.
Econ. Occupational mobility inter change of work force from one occupation to anothers. Law Same
Economic Cost The cost which takes into account the explicit as well as the implicit cost is known as economic cost.
Economic Costs Economic cost is the combination of gains and losses of any goods that have a value attached to them by any one individual.
Economic System An economic system refers to the sum total of arrangements for the production and distribution of goods and services in a society. It includes various individuals and economic systems.
Economics It the branch of knowledge which is concerned with production, consumption and transfer of wealth.
Efface To remove.
Effected Producing result
Efficacy Effectiveness.
Efficiency Competency Acct. Cost of input for each unit of output produced.
Efficient Effective Q.A. An unbiased as estimator
Effluent Waste produced by factories.
Effluvia Unpleasant smell.
Effusion The act of flowing out.
Ejectment Removal; dispossession
Elapsed Go by
Elasticity of Demand It is defined as the responsiveness of the quantity demanded of a good to changes in one of the variables on which demand depends. More precisely, elasticity of demand is the percentage change in quantity demanded divided by the percentage change in one of the variables on which demand depends.
Elasticity of Supply It is defined as the responsiveness of the quantity supplied of a good to a change in its price.
Elect To choose by voting.
Elevated Elevated To raise Q.A. Elevation The height of the point above a given plain, above sea level.
Elevation Increase in level or amount. Q.A. The height of a point above a given plane
Eliminate To get rid of; to knock out Q.A. Elimination of an unknown firm a set of simultaneous equations.
Elucidate Explain.
Embankment A wall of stone made to keep water back.
Embezzle To steal money. Law Dishonest misappropriation of property.
Embezzlement To steal money; fraudulent
Embodying To include; represent; to in corporate
Embrace Thing.
Emerge To come forth; to transpire
Emergency A sudden serious and dangerous event.
Eminently Extremely, very; notably
Emission The production or sending out of light, heat, gas etc.
Emoluments Money paid for work done.
Emphasis Force, importance, stress
Emphasize Stress.
Empirical Based on experiment & experience Q.A. Formula, assumption rule based on observation
Empirical Based on observations and experience. Math. Formulas based on experience rather than logical conclusions.
Employment Surplus manpower having zero marginal productivity so that their removal would not affect the volume of total output.
Emulate To try to be equal
Enacted To pass a law; be played out Law Written law
Enactment A law which has been made official.
Enactment - Law A law which has been made official.
Encashment Exchange for money.
Encompass To encircle
Encounter To meet with; to oppose; to fight against
Encourage To give support; to stimulate
Encroachment Slowly begin to cover more and more of an area. Law usurping on other's rights territory etc.
Encumbered To make it difficult to do or to happen. Law A claim. Acct. A debt secured by a lien on assets.
Encumbrance Burden Acct. In govt. accounting commitments related to unfilled contracts for goods and services; debt secured by a lien on assets Law A claim, lien, liability attached to property as mortgage.
Encyclopaedia A book giving information about all areas of knowledge.
Endeavour An attempt to do something new or difficult.
Endorse To say publicly that you support a person, statement or course of action. Law To write on the back of a document in cheque.
Endorsement A public statement showing that you support. Acct. Signature on a draft or cheque by the payee.
Endowment Act of giving fund for support of person; enriching Q.A. Endowment insurance provides payment of a benefit at the end of a given period.
Enduring To bear, to submit to, lasting
Enface Law To write or stamp on the face.
Enforcement & Law Process of compelling with a law.
Engaged To bind by contract, to occupy; to employ over self busy doing some thing
Enhance To increase or further improve
Enlargement The process of becoming something larger.
Enshrined To make a law, right especially by stating it in an imp. Document.
Ensure To make certain
Entertainment Amusement
Entirety Law As a whole.
Entitled To give right to have or to do Law having a title.
Entity Something that exists seperately from others. Law A real existence. Acct. Separate economic unit for e.q. partnership, individual, corporation and so on.
Entrant One who enters.
Entrepreneur A person who makes money by running business Econ. Owner manager of a firm
Entrepreneur Owner-Manager of a firm. Econ. Same.
Entrepreneur A factor which mobilizes all other factor of production like land, labour, capital, and combines them in the right proportion, initiates the process of production and bears the risk involved in it.
Entrust To put under care of, to confide.
Entrusted Law To charge or invest with a trust responsibility for a thing.
Enumerate To count number, to detail
Enunciate To pronounce distinctly; to state in clear terms.
Envisage To look in face of, to consider, to imagine
Envoy A person sent as a representative of a government to talk to other governments and organisations
Epidemic Infectious disease prevalent over large area
Epitome A perfect example of Law An abstract, a summary.
Equalise To make things equal.
Equation Reduction to equality Q.A. A statement showing that two amounts or values are equal.
Equilateral Having equal sides
Equilibrium A state of balance; a calm state of mind. Econ. Condition of maximum production in an economy according to existing resources.
Equilibrium Price The price at which the wishes of both the buyers and sellers are satisfied. At this price, the amount that buyers want to buy and sellers want to sell are equal.
Equipment Things that are needed for a particular purpose or activity; outfit
Equity Fairness; value of company's shares Acct. Assets minus liabilities Econ. Value of a property after all charges and debts have been paid. Law A system of natural justice allowing a fair judgment.
Equity Value of a company's shares. Econ. Residual value of a company's assets after all outside liabilities have been allowed for. Acct. Assets minus liabilities. Law Fair and just.
Equivalent Equal in value; amount importance etc. Q.A. Two angles that have the same measure
Eradication Wiping out.
Erroneously Not correct. Law Not rightly.
Error Mistake. Acct. Difference between a correct item or amount and an incorrect item or amount. Math. The difference between a number and the number it approximates.
Escape To get away from danger; to avoid.
Escheat Law Lapsing of property to the state on the death of the owner.
Escort Body of armed persons to guard a person or goods on a journey.
Essence Law A basis underlying or constituting entity. Most important quality or feature
Essential Necessary
Established Settled; to prove, to setup
Estate Large area of land. Law All money and property that a person owns.
Estimate To find an idea of the cost, size, value etc without calculating it exactly. Law Valuation. Statistics A numerical value assigned to a parameter of a distribution function of a random variable.
Estimate To judge value of; to form opinion of Q.A. A numerical value assigned to a parameter of a distribution function of a random variable.
Estoppel Law When one person has by his declaration intentionally caused or permitted another person to believe a thing to be true Q.A. To find the value of
Evade Avoid or escape.
Evaluated Assessed
Evasion Act of avoiding
Even though Despite the fact or belief.
Event Incident; something that happens Acct. In program evaluation & review technique point in time that represents the start or completion of a set of activities. Q.A. An event is any subset of the possible outcomes of the experiment.
Eventually Finally
Eviction To force to leave a house or land. Law Dispossession.
Evidence Testimony; sign or token
Exact Precise Q.A. Exact division division in which the reminder is zero.
Exaction To demand.
Excavation The activity of digging in the ground to look for old buildings or objects
Exceed To go beyond
Excellence The quality of being extremely good.
Except Apart from the fact. Law To exclude.
Exception Not according to rule, exclusion. Acct. Except for opinion
Exceptional Outstanding. Law Unusual.
Excess More than that is necessary. Econ. Excess Demand Amount of goods or services which buyers wish to buy exceeds that which sellers are prepared to sell. Excess Supply Quantity of good or services which buyers wish to buy exceeds that which sellers are prepared to sell. Excess supply - Quantity of good or service which sellers wish to sell at the existing market price is greater than the quantity which buyers wish to buy. Account-Excess Capacity-Idle capacity.
Excessive Beyond common measure, extravagant
Exclude To shut out, to debar.
Exclusive Only used by one particular person or group. Law Exclusive Right Sole right
Excuse To pardon, to forgive
Execute To kill to do a piece of work Law To sign; seal etc.
Execute To perform to carry out, to put to death Law To sign; seal
Executive A person who has an important job as manager of a comp.; administrative.
Executor Person appointed to carry out provisions of one's will.
Exempt Official permission not to do or pay that you would normally do or pay. Law To give community from a liability etc. Acct. Exempt Income Income not subject to tax.
Exertion Effort
Exhaust Wear out; fans for factory, kitchen etc.
Exhibit To show; display Acct. Formal statement prepared primarily for the dissemination of information.
Existence Continued being Q.A. Existence thereon a theorem that asserts the existence of at least one object of some specified type.
Exonerate Law To release a person or property from liability.
Exorbitant Excessive
Expansion It is a period when the level of business activity surges and gross domestic product (GDP) expands until it reaches a peak. A period of expansion is also known as an economic recovery.
Expansion Act of enlargement Q.A. The forma quantity takes when written as a sum of terms, or as a continued product or in any type of expanded form.
Expectancy The state of hoping that something good or exciting will happen.
Expel Law To eject, to dislodge. To force to leave.
Explicit Quite clear, frank
Explode To burst.
Exploit To treat unfairly by making them work and not giving much in return.
Exploitation Treat in an unfair manner; to utilise for one's purpose, to grab.
Exploration Close and thorough search
Exponential (of a rate of increase) becoming faster and faster. Q.A. Of or shown by an exponent ex. 24
Express To make known a feeling, an opinion definite. Law explicit.
Express To show a feeling, Explicit Law Express agreement Which is clear and explicit.
Expression Utterance; look Q.A. Used to designate any symbolic mathematical form, for instance as a polynomial.
Extension Extent, addition
Extensively of Great extent, far reaching
Extent Degree, large space
External Debt Econ. Reliance on other countries and international organizations for financial assistance.
External Economics They accrue to the firm as a result of expansion in the output of whole industry. They are external in the sense that they accrue to firms from expansion of the industry.
Extinction Total destruction
Extinguished To put out, to put an and to
Extract A portion of any writing. Law Extract Money Take by force. Math to find a root of the number.
Extraction Drawing out
Extraordinary Uncommon, remarkable
Extravagant Spending more than you can afford or is necessary in excessive.
Extreme Outer most, very great in degree Q.A. A maximum or minimum value of the function
Extreme Very great in degree; out for most Q.A. A maximum or minimum value of a function
Fabricate Make up, manufacture. Law To forge.
Face Value Value of a stamp, coin ticket, etc that is shown on front of it. In Accounts nominal amount of a debt obligation; par value.
Face Value Value that is shown on the front of a stamp, coin etc. Acct. Nominal amount Math Par value.
Facets A particular part; flat face of cut gem
Facevalue Value of a stamp, coin; ticket that is shown on the front of it. Acct. Nominal amt. of a debt obligation Q.A. Par
Facilitate To make easier
Facsimile An exact copy.
Factor Component part of a number; commercial agent. Q.A. To resolve into factors. A factor of an object is any object that divides the same object.
Factorial The result when you multiply a whole number by all the numbers below it. Q.A. Same as G.M.
Fair and just Extremely fair.
Fair deal Acceptable.
Faith Trust.
False Not correct Law Deceitful.
Familiarize To accustom, acquaint.
Farsighted Sharing an understanding of the effects in future of actions that you take now
Feasibility practicability, convenience Acct. Feasibility Study evaluation of a comptemplated project or course of action
Feedbacks Advice, criticism or information
Felony Very serious, crime
Fertilizer A substance added to soil to make the plants grow more successfully.
Feudalism A social system in which people were given land & protection by a nobleman and had to work & fight for him in return
Fictitious In apiary, false
Fictitious Assets False or which do not exist. Acct. Assets which are not expected to realise any value or render any benefit in future.
Fiduciary Involving trust. Acct. Individual responsible for holding property owned by another.
Final Accounts Acct. Culmination of records drawn up at the end of the accounting period i.e. Trading & P/L A/c & Balance Sheet.
Finance Money used to run a business, fund Econ. Provision of money for productive purpose
Finished Complete
Finite Having limit or boundary Q.A. Finite quantity any quantity which is bounded.
Fiscal Pertaining to revenue Econ. Fiscal policy is that part of govt. policy. Which is related to raising revenues through taxation
Fit & Proper Appropriate.
Fixed Assets Land, Building. i.e. immovable. Acct. Item which has a life in excess of one year and has a physical existence.
Fixed Cost The costs which do not vary with the level of output upto a certain level of activity are known as fixed cost.
Fledge To provide with feathers.
Float Drift. Law Issue and offer for sale. Acct. Time between deposit of cheques and payment.
Float Drift. Acct. To sell shares in a company or business to the public for the first time. Accounts time between deposit of cheques in a bank and payment.
Floated Drifted; glided
Fluctuating Unsteady; moving hither & thither.
Fluid A liquid, flowing.
FOB Free on-board. Econ. Refers to valuation of goods.
Folio A leaf of a paper. Acct. Folio No. Manner of reffering in journal or ledger to the origination or disposition of the item.
Forbearance Quality of being patient and sympathetic towards other people especially when they have done something wrong. in patience.
Forbidden Not allowed. Law To prohibit.
Force Violent action.
Forecasts To foresee; predict Acct. Estimate of future sales, revenue, costs etc.
Foregone To procede; to give up
Foremen A worker who is in change of a group of other factory of building workers. Law A person who acts as the leader of a jury in court.
Foreseeable Predictable
Forfeict To lose right to, to pay as penalty for.
Forge To Fabricate to form objects by heating.
Formation Act of forming; structure
Formerly Previously
Formidable Alarming; fearful
Forsake Abandon, renounce.
Forward Market In this market, transactions involve contracts with a promise to pay and deliver goods at some future date.
Foster Encourage, promote, nourish.
Foster Encourage the development of (something, especially something desirable).
Fraction Numerical quantity which is not an integer; part Q.A. An indicated quotient of two quantities
Fragmentation Breaking into small pieces.
Frame Border. Law Construction, constitution.
Franchise Permission given by a company to sell goods or services in a particular area. Law right of voting.
Fraudulent Intended to cheat, deceitful.
Fraudulently Dishonestly
Freehold Owning a property which does not have any time limit i.e. forever.
Freight To send goods by air, sea, or train. Law Hire charges for transportation of goods.
Frequent Happening or doing something after often
Frequent Happening or doing something often.
Frictional Unemployment Econ. When some workers are temporarily out of work due to strike, lock outs, or changing jobs.
Frivolous Of no importance; not with serious attention.
Full Oligopoly In full Oligopoly, the price leadership is conspicuous by its absence.
Fume Very angry, odorous smoke.
Fund Money that is available to be spent. Accounts Cash, securities, designed for a specific purpose such as sinking fund.
Fund To provide money for amount of amount saved or made available for a particular purpose. Acct. Cash, securities or other assets designated for a specified purpose.
Fundamental Basic; primary; Account Fundamental Analysis- Evaluation of a company's stock based on an examination of the firm's financial statements.
Gain Profit, advance; to get by effort
Gallon A unit for measuring liquid
Galloping Horse's quickest pace; charge Econ. Galloping inflation rapid growing inflation
Gathered Assembled; to bring together.
Gauge An instrument for measuring; to make judgment.
Gear Machinery in a vehicle which turns engine power into movement; dress; fittings; apparatus
Gearing Relationship between the amount of money that a company owes and the value of its shares.
Generalised To bring under general rules.
Genuine Real, pure
Geometric progression A series of numbers in which each is multiplied or divided by a fixed number to produce the next. Q.A. Same as G.M.
Giffen Goods A Giffen good, in economic theory, is a good that is in greater demand as its price increases.
Globalisation & Econ. Integrating the domestic economy with the world economy.
Godown Warehouse
Goodfaith Intention to be honest and helpful.
Goodwill Friendly and helpful feeling towards others. Acct. Value of company's name and reputation.
Grade A degree in the scale of rank, dignity, proficiency, etc
Gradient Incline, rise or fall Q.A. The rate at which a variable quantity such as temperat or pressure changes in value
Gradually Slowly, over a long period of time
Grant To allow, to agree to give.
Granted Allowed; bestowed
Gratuitous Unnessary Law Without valuable or legal consideration
Gratuity Money given to employees when they leave their job.
Gratuity Money given to employees when they leave their job; tip
Gron In total Math. Twelve dozen. 12*12.
Ground of Claim Law Basis of assertion.
Guarantee Assurance.
Guilt Law The act of committing or of being guilty of some offence.
Habeas Corpus It states that a person who has been arrested should not be kept in person longer than a particular period of time unless a judge decides.
Habitation A place of abode; dwelling
Habitual Usual or typical.
Habituated Accustomed
Hampered Hindrance; obstruction
Harmonic Progression Q.A. A sequence whose reciprocals form an arithmetic sequence
Harmonize Adjust in fit proportion to reconcile
Hauling Puling.
Hazardous Dangerous.
Heading Title.
Hearsay Slow which one has heard from another without himself having any direct knowledge thereof.
Hedge Row of bushes. Acct. way of protecting oneself from less against unfavourable changes in prices.
Hedge Sow of bushes. Econ & Acct. Action taken by a buyer or seller to protect his business against a change in price.
Heir A person who inherits.
Hereditary Given to a child by its parents.
Hesitant Doubtful
Heterogeneous Of different kinds
Hexagon Six sided figure
Hinge Piece of metal on which a door moves freely; turning joint
Hire Payment contracted to be made for the temporary use of anything.
Hire To pay money to borrow for a short time.
Hire Wages or payment for use of anything
Hire-Purchase Method of purchasing an article by making regular payments.
Histogram Bar chart
Historical Costs A historical cost is a measure of value used in accounting in which the price of an asset on the balance sheet is based on its nominal or original cost when acquired by the company.
Hold up delay
Holder A person who has or owns the thing mentioned. Q.A. The one who owns a note
Holder in due course Law Bill of exchange taken in good faith and for value without notice of any defect in it.
Homicide & Law Murder.
Homogeneity The quality of being the same Acct. Cost of an activity that has a similar cause and effect relationship with a cost object
Homogeneous of the same type.
Honorary Conferred as a honour; not legally enforceable.
Honour a Cheque Law To clear the payment mentioned in the cheque.
Hostile Opposed to.
Humanity The quality of being kind; state of being a person rather than a god.
Husbandry Farming.
Hyperinflation A situation in which prices rise very fast
Hypotenuse Side opposite to right angled triangle
Hypothecation Pledging a lien on property.
Hypothesis A supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation.
Hypothesis Something supposed as basis for reasoning not Acct. Hypothecs testing use of a statistical test to discriminate bet two hypothesis at two specific risk levels. Q.A. An assumed proportion used as a premise in proving something else.
Hypothetical Not based on certain knowledge; theory; speculation
Identical Exactly same
Identity Individuality; sameness Q.A. A statement of equality, usually denoted by which is true for all values of the variables.
Idiot Fool
Ignite To set on fire
Ignored Take no notice of
Illegal Contrary to law.
Illegible Impossible to read.
Illegitimate Unauthorised.
Illicit Illegal.
Illustration Example; drawing
Imaginary Unreal
Imbalance A situation in which two or more things are not the same size or are not treated the same.
Immediately At once; without delay
Immigration Process of coming to live permanently in a country that is not your own
Immoral Against public morals; dissolute.
Immunity Body's ability to avoid or not infected by infection; protection; freedom from liability.
Impact Affect. Law To press firmly together.
Impair To damage, to weaken
Impartible Estate Not divisible estate.
Imparting To give part of, to disclose, to communicate
Impeach Ouestion Law To bring a charge against.
Impediment Obstacle
Imperfect Competition The situation prevailing in a market in which elements of monopoly allow individual producers or consumers to exercise some control over market prices.
Imperial Connected with an empire.
Implementation To carryout
Implication Entanglement, meaning; involvement Q.A. A statement that follows from other given statements
Implicit Implied; unquestioning; absolute. Acct. Implicit cost; cost that is implied but not reflected in the financial reports of the firm. Q.A. Implicit function: A function defined by an equation of the form.
Implied Not in Express words by logical inference.
Implied & Law Indicated not in express words but by logic.
Impounding Confiscate. Law To take possession of for being held in custody in abandance with law.
Imprest A loan or advance of money.
Imprest A loan or advance of money.
Improbable Not likely to happen
Imprudent Unwise
In commensurable Completely different. Q.A. Not having a common measure.
Inadequate in competent
Inadvertently Unintentionally
Incapable Not able to do
Incentive That which encourages
Incidence The extent to which something happens or has an effect
Income Elasticity It is the degree of responsiveness of quantity demanded of a good to changes in the income of consumers.
Inconsistent Tending to change often. Q.A. Inconsistent Two or more equations that are not satisfied by any one set of values of the variables.
Incorporated To form into company with legal status; to unite Acct. Same as G.M.
Increment Increase profit. Q.A. A change in a variable
Incremental An increase in the amount of money that in paid for the job. Acct. Incremental cost difference in cost between, two or more alter natives differential Math. Increment A change in a variable.
Incremental Costs An incremental cost or differential cost is a business planning analysis that looks at the additional cost to the company if a particular action is taken.
Incur To bring upon one self; to suffer Law To become liable.
Independently Not dependent on others; free
Indeterminate Uncertain; not precise Q.A. A single equation is in determinate if it has more than one variable
Indicated To point out; to suggest; to show
Indices Index.
Indifference Curve It is a curve which represents all those combinations of two goods which give same satisfaction to the consumer.
Indifference Map A collection of many indifference curves where each curve represents a certain level of satisfaction. In short, a set of indifference curve is called indifference map.
Indigenous Native.
Indirect Tax Tax where the payment liability falls on one person and the ultimate burden of tax falls on some other person.
Indiscriminately Without making distinction between good & evil
Indispensable Absolutely necessary
Induce To bring about, to persuade
Indulge To allow yourself to do 5th you like.
Ineffectual Not achieving what you want to
Inefficient Not making the best use of time, money energy etc.
Inequality Unfairness Law Irregularity Q.A. A statement that one quantity is less than or greater than another.
Inescapable Unavoidable
Inevitably Sure to happen
Infant Very young child Law Child under 7 yres of age.
Infer Deduce; to draw conclusion for
Inference Deduction or conclusion
Inferior Lower in rank, quality or value
Inferior Goods Inferior goods are those goods whose quantity demanded decreases with the increase in money income.
Inflationary Connected with a general rise in prices of goods & services. Econ. Same as G.M.
Inflection Change in the form of a word, or in how high or low your voice is as you are speaking. Math. Point of inflection ─ Point at which a plane curve changes from concavity towards any fixed line to convexity towards it.
Inflexible Unbending; rigid
Inflict To lay on; to impose
Influence Power of producing effect
Infraction Econ. A general rise in the prices of services and goods in a particular country.
Infrastructure & Econ. Basic systems and services necessary for a country of an organisation to run smoothly ex. Transport water power, education, health.
Infrequent Rare
Infringement, opposition To furnish; to assist; to give or grant
Ingenious Havent; innocent
Inhabit To dwell in
Inherent Intrinsic; belonging to nature.
Inheritance To acquire by succession
Initially Happening at the beginning
Initiative First step; self effort.
Injunction a judicial order restraining a person from beginning or continuing an action threatening or invading the legal right of another, or compelling a person to carry out a certain act, e.g. to make restitution to an injured party.
Innovation The introduction of new things; ideas etc.
Innumerable Countless, numberless
Insecticides Chemical used in insect killing
Inseparable That cannot be separated
Insolvency Bankruptcy. Acct. Failure of a company to meet its obligations as they become due.
Insolvent Bankrupt.
Inspection Official examination
Inspector a person whose job is to visit schools, factories etc; to check; officer in police force. Law A person who inspects.
Installation to fix equipment or furniture; to put new program into a computer. Law To fix equipment or furniture; to put new modam into a computer.
Installment Part payments made regularly over a period of time; episode. Acct. Part payments made regularly over a period of time; episode. Econ. Part payments made regularly over a period of time; episode. Q.A.
Instance example. Law On the request of.
Instant immediate.
Instead In place of.
Institution a large organization that has a particular purpose.
Insufficient Inadequate
Intangible that can not be touched. Acct. Intangible assets item tacking physical substance of goodwill.
Intangible That exits but difficult to describe measure etc. Acct.
Intangible Asset Item lacking physical existence. e.g. goodwill.
Integens whole number such as 3 or 4. Q.A. Same as q.m.
Integrated/ion Combining two or more things, parts so that they work successfully together. Stat. Summation or reverse process of differentiation. Law The act of joining.
Intellect ability to think in a logical way; Intelligent person
Intellectual mental; well educated
Intended to mean
Intensity To increase in degree or strength; heighten Intricacies Complications.
Intention Design, purpose.
Inteqation Act of combining two or more things. Q.A. The process the of finding an in defined or definite integral.
Interaction Communication; to act on each other. Q.A. When the outcomes of experiments are grouped according to several factors there is interaction if these factors are not independent.
Intercept To check; to stop; Law Same as G.M. Q.A. To cut off or bound some part of a line plane, surface or solid.
Intercepts To stop. Math. To cut off or bound some part of a line, plane, surface or solid. Law Same as GM.
Interchangeably To exchange with one another Law Same as G.M.
Interest Wanting to know more, hobby. Acct. Extra money you pay when you borrow money or receive when you invest money. Acct. A share in a business. Econ. A new and for use of capital in production process.
Interest accrued Interest that is earned but not received. Q.A. Same as G.M.
Interference Meddling
Interim Meanwhile; intervening time; provisional. Acct. Interim audit part of an audit carried out while the accounting period of the Bull audit is still in progress.
Interim Dividend Dividend given before the final results are know i.e. in the meantime.
Interior Internal Q.A. The interior of a circle, polygon sphere, triangle is the set of all points inside the circle, polygon etc.
Internal Economics Econ. Use of grater degree of division of labour and specialised machinery at higher levels of output. The are internal in the sense that they accrue to the firm due to its own efforts.
Interpreted To explain meaning of ; to translate one language into another.
Interrelated Closely connected to each other.
Interruption Hindrance.
Intersect To cut across. Q.A. Intersection the point or set of points common to two or more geometric configurations.
Interwoven To twist together; very closely connected
Intimation Hint Law Formal notification.
Introduced To bring in, to cause to be known; to produce.
Invariably Without fail Law Constant
Inventions Discovery
Inventory Written list of all objects. Acct. Stock.
Inverntory Stock Acct. Same as G.M.
Inversely Opposite in amount or position Q.A. Two variable having their product constant.
Invisible That connot be seen
Invitation Request to do or to go somewhere.
Invoice Bill sent for work done or goods provided.
Involve Entail; to include
Ironically Expensing by way of irony
Irrational Unreasonable Q.A. Function in which the variable appear irreduisbly under a radical sign.
Irrecoverable That you cannot get back. Q.A. Irrational algebraic surface the graph of an algebraic
Irrespective Without regard to; exclusive of
Irrigation The process of supplying water to land.
Isoquant An isoquant represents all those combinations of inputs which are capable of producing the same level of output.
Isosceles Having two equal sides. Q.A. Same as G.M.
Item A particular unit or article Law A clause of a document an entry in an amount
Joint venture Business project that is begin by two or more companies.
Journal A newspaper or magazine. Acct. A book where business transactions are first recorded in chronological order.
Junk Material rubbish.
Jurisprudence Science of knowledge or law.
Justifiable Right and reasonable Law To prove to be just.
Kinked Demand Curve The Kinked-Demand curve theory is an economic theory regarding oligopoly and monopolistic competition. Kinked demand was an initial attempt to explain sticky prices.
Know How Knowledge of how to do.
Know how Technical knowledge.
Labour The term labour means any mental or physical exertion directed to produce goods and services.
Land The term "land" is used in a special sense in economics. It does not mean soil or earth?s surface alone, but refers to all free gifts of nature.
Law Impairment of a right, claim, statement
Law To give up partially or wholly a tax, debt. etc
Lease A legal agreement that allows you to use a billing for a period of time in return for rent.
Lease Contract of house, land etc for a limited period.
Lease Period The time period for which the contract is made.
Lease Rent Rent from the lease of land.
Least Smallest
Ledger Accounts book containing accounts in which business transactions are recorded from books or original entry.
Ledger Accounts A book which contains all set of accounts.
Legislation Enacting of laws.
Lender A person or an organization that lends money.
Lessee Holder of lease
Lessor One who grants lease.
Letter of Credit A letter from a bank that allows you to get a particular amount of money from another bank.
Liability Responsibility; the amt. of money that a person or company sues. Acct. Same
Liberal Open hearted; generous.
Liberalisation Econ. Relaxation of government restrictions.
Liberalize To make a law or a political or religions system less strict.
Lien Acct. Right to keep property until debt is paid.
Linear Made up of lines; of length. Q.A. In a straight line; alone or pertaining to a curve; having only one dimension Linear Of or in lines. Math. Represented by a straight line on a graph.
Liquidation To windup business; to pay a debt; to sell something in order to get money. Econ. Terminate on dissolution Law Same as G.M.
Listed Acct. Stocks and bonds traded on an organised security exchange such as NSE, BSE, NYSE.
Literal Basic meaning of a word; exact; Q.A. A letter which denotes any one of certain constants.
Locality Place, situation vicinity
Locomotive Railway engine, moving
Long term debt Acct. Monies owed for a period exceeding one year.
Loose tools Instruments
Lopsided Having one side smaller than the other.
Loyalty Quality of being faithful true.
Lubricate Grease, oil
Lump sum Amt. of money that is paid at one time Law. Gross sum
Lumpy Full of lumps
Lunatic Insane person manial
Luxury Expensive living; extravagance
Macroeconomics It is the study of the overall economic phenomena of the economy as a whole, rather than its individual parts. Accordingly, in Macro Economics, we study the behavior of the large economic aggregates.
Magnitude Greatness, size; importance; extent. Q.A. Length, area volume; the absolute values of a real number or length of a Vector.
Maintenance Support; keeping in good condition by checking or repairing it. Acct. Periodic expenditure under taken to preserve or retain an asset.
Majority Greater Number; full age Law Age at which by law, a person is entitled to the management of his own affairs and enjoyment of civil rights.
Managerial Connected with management.
Mandate Period of time for which a government is given power. Law A command from a superior official or judge to an inferior.
Mandatory Compulsory
Manipulation Skilful handling; skilful at influencing
Manoeuverability Skilful movement
Manufacturing Industry of producing goods in large quantities in factories
Margin Border; edge; an extra amt. of time, space, money that you include in order to make sure that 5th is successful. Acct. Partial payment made by an investor to a broker for securities purchased, with remainder on credit. Q.A.-The diff. bet selling price and cost of goods.
Marginal Cost Marginal cost is the addition made to the total cost by production of an additional unit of output.
Marginal Product It is the change in total product per unit change in the quantity of variable factor.
Marginal Revenue It is the change in total revenue resulting from the sale of an additional unit of the commodity.
Marginal Revenue eco Change of the total revenue of a business resulting when an extra unit is sold.
Marginal Utility It is the addition made to total utility by the consumption of an additional unit of a commodity.
Market A market is a collection of buyers and sellers with a potential to trade. The actual or potential interactions of the buyers and sellers determine the price of a product or service.
Market Demand It is defined as the sum of individual demands for a product at a price per unit of time.
Material Fabric; substance that things can be made from; pertaining to body or wordly life. Acct. Raw material, director indirect; relatively significant. Q.A. A point, line or surface thought of as having mas.
Math. A sum paid in addition to a sum that is paid periodically added to dividends. Law extra dividend paid out of profits.
Math. Same.
Math. Slope of a path or curve.
Matrix An arrangement of numbers symbols etc in laws & columns treated as a single quantity. Q.A. A rectangular way of terms called elements.
Matrix Network; mould
Maturity The quality of thinking and behaving in a sensible, adult manner; fully developed; the time when money you have in vested is ready to be paid Acct. Due date of a debt when principal must be paid
Measure Size, quantity assess; degree. Q.A. comparison to some unit recognized as a standard.
Mechanization Automation
Memorandum A record of legal document.
Mentioned To write or speak about, to refer to. Law Suggestions.
Mercantile agent & Law An agent who has the authority binding on his principal to buy or sell goods, to consign goods for sale, or to raise money by pledging goods.
Merely Simply
Merger Act of joining two or more organisations or companies together.
Merger Combination of several firms in one. Econ. Absorption of one business unit by another.
Methodical Disciplined, precise
Methodology A set of methods to perform a particular activity
Micro Economics It is basically the study of behavior of different individuals and organizations within an economic system. Here the focus is on a small number of group of units rather than all the units combined.
Minor Not important or serious. Law A person who has not attained majority.
Mis conception Mis understanding Law The act of Mis conceiving
Miscellaneous Diverse; various Account Incidental expense of a business LawSame as gen. meaning
Misery Distress; poverty
Mislead Deceive Law To lead into error
Missiles A weapon which explodes in the air when hits the thing
Mixed Economy An economic system combining private and state enterprise.
Mixed Economy An economic system which depends on both markets and governments for allocation of resources. The aim is to include the best features of both Capitalist and Socialist Economy.
Mixed Economy Econ. An economy which contains elements of both private and state enterprise.
Mobilisation Rally, marshal. Econ. To find and start to use resources needed for a particular purpose.
Moderately Reasonably
Monetary Connected with all the money in a country. Acct. Monetary items: Assets or liabilities whose amounts are fixed without reference to future prices. Econ. Monetary policy: It is that part of economic policy that regulates the level the of money or liquidity with a view to achieve specific goals. Law- Monetetary equivalent-Equivalent in money.
Monitoring To check & control
Monopolist One who has monopoly
Monopolistic Competition This type of market is characterized by many sellers selling di erentiated products to many buyers
Monopolistic competition Eco A market situation in which there is a large number of firms whose outputs are close but not ideal substitutes because of product differentation Law Competition that is used among sellers whose products are similar but not identical.
Monopoly Sole right; Complete control Eco When a firm individual produces and sells the entire output of some commodity Law Exclusive privilege of trade created by statute
Monopoly A market structure characterized by a single seller, selling a unique product in the market.
Monopoly It is a situation where there is a single seller and many buyers. The product sold does not have any close substitutes.
Monopsony It is a market characterized by a single buyer of a product. or service and is mostly applicable to factor markets in which a single rm is the only buyer of a factor.
Monotonous Dull Repetitious
Moral Suasion Econ. Persuasion and request by central bank to commercial banks to co-operate with the general monetary policy of the former.
Mortage Transfer of interest. Acct. Liens. Econ. It is a legal agreement conveying conditional ownership of assets for a loan.
Mortgage Security for debt Accounts a lien securing a note payable Law Same as gen. meaning Q.A. A lien on property as a security
Motivation A regrow for doing or behaving in a particular way
Moulded To shape a substance into a particular form, to strongly influence a person's character
Movable That can be moved from one place to another.
Multifarious Having many varied parts or aspects.
Multilateral In which three or more grous, nations ake part; having many sides or parts Ecco. Trade & exchange bet, more than two countries in touch discrimination Law Same as gen. meaning
Narration The act of expressing in detail.
National Income The total money earned within a nation over a particular period say a year.
Navigable Affording passage for ships or boats to sailor.
Necessaries Essential objects or things.
Negotiable That can be discussed or changed before you make an agreement or decision. Law Capable of being transferable or assignable
Negotiate To try to reach an agreement by formal discussion Law To transfer for value by delivery or indorsement.
Neighbor A person living next to you.
Net Type of material that is made of string with small spaces in between. Acct. Gross amount reduced by applicable reductions i.e. free from all charges.
Net Worth Acct. Total assets less total liabilities.
Neutralize To stop from having any effect.
Nominal Accounts Income statement account that is closed out.
Nominal Accounts Acct. Those which relate to expenses, losses, gains, revenue, etc.
Non-recurring Not repeating again Account In some statement item that is either unusual in nature or in segment in occurrence
Normative Economics It is that part of economics that expresses value judgements about economic fairness or what the outcome of the economy or goals of public policy ought to be.
Notary A lawyer, with official authority to be a witness to make the document valid in law. Law A person authorised to attest contracts, documents
Notation A system of signs or symbols used to represent information Q.A. Symbols representing quantities. operations e.tc
Notorious Well known for being bad Law Notorious criminal
Nuisance Unifying situation or penson or thing or that causes trouble or problems
Null or void Not valid Law of no validity or effect Q.A. Non existent of no value. Quantitative zero; empty (as null set
Numerator The no. above the line in a fraction Law Same as gen. meaning Q.A. Same as gen menaing
Numerously Large in number
Nutritional Relating to nutrition; nourishing food.
objective Goal
obligation Commitment. Law A duty, a bond of legal necessity
Obliged To make indebted to by favour; to compel; to show that you are grateful to
Obscuring Unknown; difficult to
observe To see or notice ; monitor Law To adhere to, To follow
Obsolete out of date
Obtained To get something by effort apply
Obviously clearly
Occasion Special event, a reason or cause Law An opportunity
Occupation a job or profession Law Actual holding or possession of a land or place.
Occupational Connected with a person's job or profession.
Occupy To take up Law To be in occupation of
Occurs To happen; to exist or to be found
Octroi A tax on commodities bought into a tonnor city
Odium a feeling of refried
Offence Crime; act of upsetting or Law Crime.
Offends To make upset; or angry
Often Frequently, commonly
Oligopoly There a few sellers selling competing products to many buyers.
Oligopoly & Econ. Few sellers selling competing products for many buyers.
Oligopsony It is a market characterized by a small number of large buyers and is mostly relevant to factor markets.
Omitted Leave out; fail to do.
Onerous Beang, burden some
Operating Functional Law That which is done or carried out
Opportunity Chance ; occasion Account Opportunity cost same as eco. Eco Opportunity cost revenue lost by rejecting an alternative use of time or facilities
Opportunity Cost Acct. Revenue cost by rejecting an alternative use of time or facilities.
Opportunity Costs It is known as alternative cost, is the value of a choice, relative to an alternative. When an option is chosen from two mutually exclusive alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the alternative choice.
Optimum Ideal Law Maximum
Ordinal A number that refers to the position in a series Numbers that denote order of the members of a set as well as the cardinal number property of the set.
Ordinary Not unusual or different in any way.
Organized Oligopoly The firms have a central association for fixing the prices, outputs, and quotas.
Ostensible Apparent Law Same as gen. meaning.
Ouasi Contracts Obligation imposed by law upon a person for the benefit of another even in the absence of a contract.
Outlay Costs An outlay cost is any expenditure made to support an activity.
Outlay Costs & Econ. Expenditure of funds.
Outstanding Prominent Account outstanding check one issued by the company but not yet cleared by Law uncollected; unpaid; unsettled
Overdraft Amount of money owed to a bank when you spent more money than is in your bank account through an arrangement that permits you to do this. In Accounts. Over drawing.
Overdraft overdrawing of a bank A/c. Account Same as gen. meaning ECO It is a loan facility on customer's current A/c at a bank allowing him to overdraw up to a certain agreed limit for an agreed period.
Overhaul to examine every part of a machine including ; overtake Law
Overhead above your head; in the sky Account General costs of running a business or an organisation Q.A. All expenses except labour and material
Overlapping To extend Law same as gen meaning
Overriding overrule; more important than anything else in a particular situation Law subordinating all others to itself
Oversight Omission Law
Oversubscribed Applications for the higher amount than the subscribed amount.
Owing Money still to be paid.
Paid off. Law Satisfied payment
Parallelogram A flat shape with four straight sides. Q.A. A quadrilateral with its opposite sides parallel.
Parameter Something that decides or limits the way in which things can be done. Acct. Constant or coefficient of a variable in an equation or a system of equations; numerical characteristic of a population computed using every element in the population. Q.A.-An arbitrary constant or a variable in a mathematical expression.
Partial Oligopoly It refers to the market situation, wherein one large firm dominates the market and is looked upon as a price leader.
Participation Sharing in common with others.
Partition Act of dividing; to separate. Q.A. Partition of an integer the number of partitions of positive. Integer is the number of ways in initials as a sum of positive integers.
Partner The person you are married to Acct. One who enters into partnership and shares the profits.
Pass Book A small book containing a record of money you put into and take out of a bank account.
Patience Endurance; calm.
Patient A person under medical treatment.
Patronage The support especially financial.
Payee One to whom money is paid.
Peak A peak is the highest point between the end of an economic expansion and the start of a contraction in a business cycle. The peak of the cycle refers to the last month before several key economic indicators, such as employment and new housing starts, begin to fall.
Penalties Fine; legal punishment.
Penetration To pierce in to; the process of making a way into or through.
Percentage Rate or number per hundred Q.A. The result found by taking a certain percent of the base
Percentiles 100 equal groups that a larger group of people can be divided into, according to the place measuring a particular value. Stat. One hundred equal parts in which a set of data in divided.
Percolate To filter Law Same as gen. Meaning
Perfect Competition It is a type of market which is characterized by many sellers selling identical products to many buyers.
Period Length of time Law Same as gen. Meaning
Permanence Lasting for a long time or for all time
Permissible Acceptable; allowable Q.A. Permissible value. The values for which a function under consideration is defined.
permutation Different ways in which a set of things can be ordered.Q.A. An ordered arrangement or sequence of all or part of a set of things.
Permutations Variation in the order of things. Math. An ordered sequence of all or part of a set of things.
Perpendicular Forming an angle of 900 with another line or surface Q.A. Two straight lines which intersect so as to form a pare of equal adjacent angles are perpendicular
Perpetrate To do something wrong or en %
Perpetual Continuous
Perpetual Inventory Continuous. Acct. Keeping continuous track of additions or deletions in materials W.I.P on a daily basis.
Perpetuity forever Account Annuity that goes on indifferently Law Duration without limitation Q.A. shame as accounts
Persistent Unrelenting; continuing
Perspective View point Q.A. Two pencils of lines are in perspective position of corresponding lines meet in points which lie or a line
Persuade To convince to do something
Persuasion Conviction
Pertaining To belong to
Pertinent Relevant
Pervasive existing in all parts of a place or thing.
Perversion Behaviour that is not normal or acceptable.
Petition To make a formal request Law a formal application in writing
Petty Minor; Small Account Petty Cash. Minimal amt. of money in cash kept in hand to meet small expenditures
Physician One who is specialist in general medicine
Pivotal Of great importance
Plaintiff Panty who makes a formal complaint in court. Law Same as gen. Meaning
Pleasure Enjoyment Law Same as gen. meaning
Pledge Commitment. Swear Account Pledged Asset used as a collateral to secure a debt obligation Law A thing put as security
Plutonium A chemical which helps in producing nuclear energy.
Polygon A flat shape with at least three straight sides and angles Q.A. A plane figure counting of points & of the line segments
Polygon A flat shape with atleast three straight sides and angles. Math. A plane figure consisting of points and of the line segments.
Population All the people who live in a particular area, city or country.
Positive Economics It is the branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause and e ect relationships.
Possession Ownership; Belongings Law Physical control over, property whether actual or in eyes of law
Possibilities That which is possible
Postage Cost of sending a letter by post Law Same as gen meaning
Posting Transfer; message sent to a discussion group Account Transfer from the journal to the ledger
Postulates A statement accepted as true, self evident fact Law Assume as a necessary condition Q.A Statement accepted without proof
Potential Possible; qualities that are present and can be developed
Poverty The state of being poor.
Pragmatic Dealing with things sensibly and realistically in a way that is based on practical rather than theoretical considerations.
Pre arranged To arrange in advance; pre determined
Pre paid Paid in advance Account Pre paid expenses. expenditures paid in one accounting period but not completely used or consumed until the next accounting period.
Pre-dominantly Mostly; mainly
Pre-mature Happening before the expected time Law Same as gen. meaning
Pre-requisite Pre-condition Account Event or action that has to be satisfied before the next event or action can occur
Preceding To happen before Law Same as gen. meaning
Precisely Exactly Law Same
Precision Accuracy Law Same as gen. meaning
Precluded To prevent, To stop Law To exclude
Predicted To forecast
Preference Share These shares have a precedence and the ordinary shareholders for the payment of dividends and return on capital if the companies goes into liquidation. Econ. Same as G.M.
Preferring Liking one thing better than the another
Prejudice Bias, unreasonable dislike for a person, group etc.
Preliminary Initial Acct. Preliminary expenses Prior expenses or pre-incorporation expenses. Law Preparatory
Preliminary Initial Law Preparatory, introductory
Premises Building and land near to it that a business owns or uses. Law Same as gen. meaning
Premium Amt. of money that you pay once or regularly. Account Access amt. received over the par value of a security. Q.A Amount paid for loan of money, in addition to normal interest .
Prepaid Expenses Paid for in advance. Acct. Expenditure paid in one accounting period but not completely consumed until the next accounting year.
Prepared Paid in advance Account Pre paid expenses. expenditures paid in one accounting period but not completely used or consumed until the next accounting period
Prescribed To advise use of medicine, stipulate. Law To lay down by rules.
Pressure Force, stress tension, strain Law Pressure of work overloading of work. Q.A A force, per unit area, exerted over the surface of a body.
Presuming Assuming Law To hold as true or proved until evidence is forthcoming
presupposes. presume, assume.
Pretented Not real, to behave an a particular way to make others believe that is not true. Law Assert falsely
Prevailing Current , predominant
Prevented To stop from doing
Preview To see a film/movie, a programme, before it is shown to the general public.
Previously Prior, preceding Accounts Law Same as gen meaning
Price Discrimination It is a method of pricing adopted by a monopolist to earn abnormal pro ts. It refers to the practice of charging different prices for different units of the same commodity.
Price Elasticity It expresses the response of quantity demanded of a good to a change in its price, given the consumer?s income, his tastes and prices of all other goods.
Prima facie At first sight or view. Law On the face of it
Primary Data Math. The data which are collected for the first time by an investigator or agency are known as primary data.
Prime Main; Most important Account Prime cost- direct mat plus direct labour, It excludes overhead Eco. Prime cost-variable costs plus administrative & other fixed costs that can be avoided in short or long. term if there is no output, even while the firm continues to be in business. Law-Prime cost- The true price paid for goods on a bonafide purchase. Q.A-Any number of an integral domain that is not a unit.
Primitive Crude, simple. Math. A geometrical form from which another is derived.
Prior-period Happening or existing before. Acct. Revenue or expenses applicable to a previous period.
Priority Precedence Law A precedence or preference in claims, payment
Private Costs A producer's or supplier's cost of providing goods or services. It includes internal costs incurred for inputs, labor, rent, and depreciation but excludes external costs incurred as environmental damage (unless the producer or supplier is liable to pay for them).
Privatisation Denationalisation.
Privileges Honour, favour Law A special right, or immunity granted to a person or class of persons
Pro- rata allotment Proportionate
Probability. Likelihood Account Degree of likelihood that something will happen Law A probable event, circumstance, belief, Q.A If n be the number of exhaustive cases of an event under a given set of conditions and if m of these cases are known as the event A, then the probability of event A is m\n.
Procedure Way of doing things Law Form of conducting judicial proceedings
Proceeding act, transaction Law A legal action or process
Procurement The process of obtaining. Law attainment
Producers Goods Producers goods are those goods which are used for the production of other goods-either consumer goods or producer goods themselves
Product Differentiation The marketing of generally similar products with minor variations that are used by consumers when making a choice.
Production It is the organized activity of transforming resources into nished products in the form of goods and services.
Profit The money which you earn from business. Acct. Same. Econ. It is the income which accrues to an entrepreneur i.e. the residual balance after meeting all opportunity costs to the inputs he employs. Law-An advantage or benefit.
Proforma invoice Document that gives details of the goods sent to a customer Account Same as gen meaning
Progression Process of developing gradually
Progressive Advancing; improving
Progressive Developing gradually. Econ.-Progressive tax-Rising proportionally with in crease in income. Law-Progressive totals-Cumulative totals.
Prohibits Forbid, prevent Law Same
Projection An estimate Q.A The act of putting an image on to surface
Prominent Noticeable. Law Important
Promisor & Law The person making the promise.
Promissory Note A signed document containing a promise to pay a stated amount of money before a particular date.
Promissory Note A written promise to pay a stated amt. of money. Account Same Law same Q. A Same
Prompt Immediate Law Ready to act.
Propensity Tendency.
Proportionate Increase or decrease in size or amt. according to changes in something else; proportional. Law Being in proportion. Q.A.-Equal relationship between two pair of numbers.
Proportions A part or share of a whole; Ratio. Law Relationship of one part to another Q.A equal relationship between two ratios or two pair of numbers
Proposed Suggest plan Law To lay before another which one offers to do or wishes to be done.
Propounded To propose Law To offer for consideration debate
Proprietor One who has owner of a business. Law Exclusive input to the use or disposal of a thing.
Proprietor Owner of a business Law same
Prosecution Process of being officially changed with a crime in court Law Party by whom criminal proceedings are instituted or conducted.
Prosecution Process of trying to prove in court that the person is guilty of crime. Law Carrying on of the legal proceedings against a person.
Prospective Forthcoming Law Concerned with future.
Prospectus A book or printed document containinginformation about a school , college etc. in order to advertise it. Account Same as law Law A document that gives information about Company's share before they are offered for sale.
Prosperity Affluence
Protect Safeguard Law To take care of
Protection To guard, to defend Law Immunity from prosecution, saving from danger of harm.
Provincial Connected with the parts of a country that do not include the capital only.
Provision Arrangement for future, supplies of food & drink
Provision Supplies of food and drink. Acct. Amount of an expense that must be recognised currently when the exact amount is uncertain Law Each of the clauses or divisions of a legal instrument laying down a rule.
Prudent Surrible and careful while taking decisions. Law Wisdom & care, worldly wise.
Psychological Connected with a person's mind and the way in which it works.
Punctuality Doing the work at the correct time.
Punitive Inflicting Punishment
Punitive Inflicting punishment.
Pure/Perfect Oligopoly If the firms produce homogeneous products, then it is called pure or perfect oligopoly.
Pursuance Carrying out
Q.A. A part off from any figure by a time or plane.
Q.A. Replacing the one quantity by the other.
Quadratic equation. Involving an unknown quantity that is multiplied by itself once only. Q.A. Same as gen. Meaning
Quadratic Math. Involving an unknown quantity that is multiplied by itself only once; a quadratic equation.
Quantified. To describe express as an amt. or a number.
Quarries a place where large amt s. of stones are dug out ; prey
Quick asset Acct. Current assets which can be readily converted into cash.
Quotient a number which is the result when one number is divided by another Law same as gen meaning. Q.A. Same as gen. Meaning Raised To move upwards; higher than the area around Law lifted
Random Without any regular pattern. Stat. Random Selection in which each thing has a equal chance of being chosen. Law Random Fluctuations Irregular fluctuations. Acct. Random sample equal probability of each item being chosen.
Range Variety of things, chain of mountain peaks, limit between which something varies. Math. Range The range of a function is the set of values that the function takes on.
Ratified To make an agreement officially valid Law Same as gen. mean.
Ratio Ratio Relationship between two groups of people or things that is represented by two numbers Account Relationship of one amt to another Q.A. quotient of two numbers
Rational Reasonable. Q.A. Rational number.A number that can be expressed as an integer or as a quotient of integers
Rationality The quality of being based on or in accordance with reason or logic.
Rationalization Changes to a business, system industry etc. in order to make it more efficient. Math. Rationalize To remove radicals.
Re-adjustment To get used to a changed or new situation Law Re arrangement
Re-assessed To be-appraise
Re-Invest To put profits back into the same investment or a new one.
Realises Become aware; achieve Law To recover, to obtain, or to acquire possession
Realizable Achievable; that can be sold and converted into money.
Reasonable Fair; rational Law Endowed with reason
Rebate Discount Account Abatement; refund; payment to a customer upon completion of a purchase as a sales promotion tactic
Rebutted To prove that a statement or criticism is false. Law To refute, to repel by counter proof
Recently Not long ago
Recession Backward movement of something a down turn in economy when there is less of trade and industrial activity and people are unemployed.
Recession Going back, retreat Eco A time when there is less of trade and industrial activity than usual and more people are unemployed; adventure in economy
Reciprocal Mutual Account Result derived from the division of 1 by a given quantity Law Same as gen. meaning Q.A. Same as Acc. meaning
Reckoning Calculation Law To estimate by calculation To compute
Recognises To identify To acknowledge Law To admit
Recommended To advise; commend Law Mentioned favourably
Reconciliation An end to a dis agreement Account Adjusting the difference between to items so that the figures agree. Law Restoration to friendship or harmony
Reconciliation An end to a disagreement. Acct. Adjusting the difference between two items so that the figures tally.
Reconstituted To form an orgnisation or group again in a different manner Law Constituted afresh
Recovering To regain; To recomp To get back to normal state. Law To gain by legal process; to get or obtain (money)
Recovery An economic recovery is the phase of the business cycle following a recession, during which an economy regains and exceeds peak employment and output levels achieved prior to downturn.
Rectangle Four sided right angled figure
Rectification To correct Law Process of rectifying
Redemption The act of saving or state of being saved from evil. Account exchanging shares for money; repayment of mutual funds. Law The action of cleaning off a liability Q.A. Act of redeeming
Redemption The act of serving from the power of one. Acct. Repayment of bonds, stock before maturity by a call. Law Action of clearing off a liability.
Reduced To make less or smaller in size
Reducing Balance Method Acct. A fixed percentage of diminishing value of the asset is written off each year to reduce the asset to its break-up value at the end of its life.
Reflexive Reffering to subject Q.A. Reflexive relation . A relation of which it is true. is for any x, x bears the given relationship to itself
Regain To get back something which you no longer have to recover.
Regard To esteem, to consider
Regarding Concerning
Regardless Paying no attention.
Regime A method or system of organising or managing
Regression Going back to an earlier or less advanced form or state.
Regression The process of going back Q.A. Statistical procedure for estimating the relationship act the dependent variables. Econ.-Statisfical techniques used to quantity the relationship between two or more variable.
Regression Regression is a technique used to model and analyze the relationships between variables and often times how they contribute and are related to producing a particular outcome together.
Regret To feel sorry Law Same
Regulated Market In this market, transactions are statutorily regulated so as to put an end to unfair practices.
Regulation Official rule made by a govt. or some other authority. Acct. Authoritative body of rules specifying details of procedure
Regulatory Power to control
Reimbursement To pay back money which have been spent or lost. Law Repayment.
Reimbursement To pay back money which is spent or lost. Law Repayment.
Relative Poverty Econ. When poverty is related to the distribution of income or consumption expenditure.
Relaxation Way of resting and enjoying yourself. Law Act of relaxing Q.A A method in which the errors, are considered as constraints that are to be relaxed.
Relevant Closely connected with the subject .You are discussing. Account Relevant costs expected future cost that differ from the alternatives Law Pertinent
Relinquishment Act of surrendering Law Release of a claim
Reluctant Restating; unwilling
Remedies Solution; cure. Law Legal redress
Remit To send money; forward; cancel or free from a debt.
Remote Isolated
Remuneration Money paid for work done. Law Same.
Remuneration To pay for work done or services rendered Law Same as gen. meaning
Rendered To give ; to repay; to translate Law To, Provide, to give
Renewal Revival Law Act of renewing any permission or grant.
Repatriation To bring back to their own country Law Same as gen. meaning
Replacement The act of removing and putting another person or thing in their place. Account Replacement cost. Current cost. Law same as gen. meaning Q.A Replacement cost of equipment . The cost of new equipment minus the scrap value.
Replacement Cost Acct. Current cost of replacing an existing asset.
Replacement Costs Replacement cost is the amount of money required to replace an existing asset with an equally valued or similar asset at the current market price.
Replenishing To top up; To fill up again. Law Same as gen. meaning
Repudiation Rejection; deny; disown. Law Dis own the suit
Rescue To save from a dangerous situation.Law Same as gen. meaning
Resembling Similar Law Same as gen. meaning
Reserve Book; to keep back; to retain; extra stock. Acct. Money kept in hand or set a part to meet a specified liability; appropriation of retained earnings for a designated purpose.
Resident Living in a particular place.
Residual Value Outstanding value. Acct. At any time, the actual or estimated value of an asset or scrap value.
Resolution a firm decision; settlement ; to resolve Law same as gen. meaning Residual Remaining ; outstanding Account Error. Residual Income. Income which is unaccounted for. Law same as Acc. meaning
Resorting Recourse; to go to a place
Respective relating separately to each of the people or things ; Particulars
Rest Short pause; remaining part; support; relax.
Restoration Act of bringing back a system, a law etc.Law Act of being reinstated
Restrain To control; To keep in check Law To hold back a person from action.
Restrict To limit or control
Retain Preserve
Retract To withdrawn to abandon Law Same as gen. meaning Q.A. A subset x of a topological space t being a retract of T means that there is a caninus function that maps T onto X and satisfies f (x) = x of xc-x
Retrenchment To reduce Law reduction of employee
Retrogressive Returning to old fashioned ideas or methods; going back
Retrospective Connected with something that happened in the past. Law Looking back on past.
Return inwards Account Goods returned by customers
Return outward. Account Goods returned to suppliers
Reunified Joining together of two or more regions or parts of a country.
Revalued To estimation of value of something again giving it a higher value.
Reveal Disclose Law Same as gen. meaning
Revenue Receipts; income Account Interest in the assets of an organisation or the decrease in liabilities.during an accounting period. Law Annual yield of taxes, excises, customs, duties and other sources of income that a nation, collects and receives.
Reverence Repetition.
Reversed Change to opposite; back. Law To undo, To annul Q.A. Backward.
Revocation Act of cancelling
Revolution An attempt by a large no. of people to change the govt. of a country; a complete circular movement.
Revolution Complete change of Govt; turning around.
Rhombus A flat shape with four equal sides and unequal angles Q.A. A parallelogram with adjacent sides equal
Rigid Inflexible; stiff Q.A. An ideal body whose distance bet. Each pair of points of the body remains unchanged.
Roster Rota; list of people's names and jobs that they have to do at a particular time.
Royalty Member of a royal family; a sum of money paid to a person who has written a book each time that it is sold.
Running Expenses Day to day expenses.
Sacrifice Giving up one's life for noble cause; victim killed and offered to deity; giving up something important in order to do or got something that seems more important.
Safeguard Protection; precaution
Salvage Saving of property things from fire or disaster. Acct. Expected price for a fixed asset no longer needed in business operations
Samples Pattern; specimen Acct. Selected item in a population. Q.A. A finite subset of a population
Satiable Capable of being satiated.
Scarce Scanty; rare.
Scattered Spread far asent over a wide area or over a long period of time; to disperse.
Schedule List, tabulated statement. Acct. Supporting set of calculations, data, information; auditions set of working papers. Law An appendix to an act of legislature or to do a legal instrument containing a statement of details.
Scrap Small piece of cloth; paper etc.; bit. Acct. Residue from manufacturing operations that has minor recovery value. Q.A. Scrap value Salvage value.
Seasonal unemployment A condition of unemployment which is created seasonally.
Secondary books Supplementary book. Q.A. Secondary parts of a triangle parts other than the sides and interior angles such as attitude, medians & exterior angles.
Secondary Data Math. If the data, already collected are used by a different person or agency is called secondary data.
Secure Safe; reliable; firmly fastened.
Security deposit Deposit made for security.
Segment Part; division Acct. Functional or responsibility. Area within a business that can be reported upon separately.
Segregated Isolated; to separate from others.
Seldom Rarely
Seller A person who sells.
Separately Not together.
Sequence A set of events, actions, numbers, etc. which have a particular order and which lead to a particular result. Math. A set of quantities ordered.
Series Succession of things connected together; set of books. Q.A. The indicated sum of a finite or infinite sequence of terms.
Settler Colonist.
Severally separately
Shareholder Owner of share
Shed To let face; outhouse
Sheltered Protected from bad weathers unpleasant aspects or difficulties of life.
Shortcoming Fault; defect
Shrinkage Process of becoming smaller in size contraction. Acct. Excess of inventory shown on the books over actual quantities on hand
Significant Meaningful expressive; noteworthy
Simplification Process of making something easier to do or understand Q.A. Simultaneously on all the variables.
Simultaneous Happening at the same time. Q.A. Two or more equations that are conditions imposed.
Singleton A single item; unmarried person. Q.A. A set that has exactly one member.
Sinking fund Acct. Fund set aside for periodic payments for paying off the principal of a debt when falls due.
Situation Position; condition
Skewed Not correct Math. Skew lines non-parallel lines.
Slavery Condition of slave.
Snob Effect The snob effect is a phenomenon described in microeconomics as a situation where the demand for a certain good by individuals of a higher income level is inversely related to its demand by those of a lower income level.
Social Cost Social cost refers to the total cost borne by the society on account of a business activity and includes private cost and external cost.
Socialist Economy An economic system where the resources are allocated according to the commands of a central planning authority and market forces have no role to play in the allocation of resources.
Solvency Ability to pay off one's debts.
Sophisticated Clever & complicated having a lot of experience of the world.
Sovereign A king or queen; Autonomous; supreme; old British gold coin worth one pound. Law Same as G.M.
Specific Definite; precise; particular. Q.A. Specific grain the ratio of the weight of volume of an substance to the weight of the same volume of a standard substance.
Specimen Sample
Spectator Very impressive; Breathtaking.
Splicing Joining together ends of rope by interweaving strand.
Spoiled Ruined; overendulge
Spot Market Spot transactions or spot markets refer to those markets where goods are exchanged for money payable either immediately or within a short span of time.
Spread To diffuse; to expand.
Stabilize Steady and unlikely to change; to make stable. Econ. Stabilization policy: The name given to the measures which governments take to reduce the amplitude of cyclical fluctuations.
Stagflation An economic situation when there is high inflation.
Stagnation To stop developing or making progress. Acct. And operating performance of an enterprises.
Stakeholder A person or company that is involved in a particular organization because they have invested money in it.
Statement Declaration; expression. Acct. Formal document presenting the financial condition Q.A. Open statement is a function whose range is a collection of statements.
Statistics The set of all possible outcomes of an experiment, or the totality of numbers or symbols. Ex. set.
Statutory Fixed by law. Acct. Statutory Audit One conducted to meet the particular requirements of a govt. agency.
Steeply Sharply; rising or falling quickly.
Stewards A person who takes care of passenger on a ship; marshal; domestic manager.
Sticky Adhesive; Sweaty.
Stiff Unbending; strong; difficult.
Stifle Supress; suffocate
Stipulation Term of contract; specification Law An agreement.
Stipulation To specify Law An agreement; the term of an agreement.
Stranger Unknown person or foreigner Law One not party to an act.
Strata A layer of sock; a clam in a society.
Strategies Planning or putting a plan in operation. Math. Determined plan, covering all possible contingencies but not involving use of random devices.
Strategy Art or science of war; a plan that is intended to achieve a particular purpose.
Stratify To arrange in layers. Acct. Stratified sampling method used to divide a population into homogeneous subgroups (Strata).
Streamlined To give a smooth shape so that it can move quickly or easily through air or water.
Strength Power; force; intensity.
Stressed Prenuse; too anxious fired. Q.A. A material body is said to be stressed. Q.A. when the action of external forces is transmitted to its interior.
Strictly In a controlled manner; absolutely; purely.
Structural unemployment Econ. Unemployment because of long term change in demand or technological conditions in an economy.
Stub A short piece of a cigarette, pencil etc. which is left when the rest of it has been used.
Subjective Based on your ideas or opinions rather than facts.
Subjective Based on your own ideas or opinions rather than facts.
Subletting To underlet to another person.
Subscription Donation; Signature Acct. Agreement to purchase a security.
Subsequent Happening or coming after
Subsidiary Subordinate; additional; a company need controlled by another company Acct. Same as G.M.
Subsidies Help by grant of money Econ. A special financial relief given by the govt. to an enter prise in the interest of both consumers producers.
Substantial Considerable
Substitution To put in place of another.
Subtracted To deduct the smaller one from greater one
Succeeding To follow after; to be in place of; to prosper; to accomplish one's purpose.
Succession Series Law The process by which one person succeeds another
Successive Consecutive
Sudden Happening unexpectedly
Suffered To endure pain; to undergo
Sufficient Enough; adequate
Suitable Proper; fit
Summarise To set forth chief points of matter
Summary Concise; brief Law Performed by a short method.
Summation Summary Q.A. Sum of series.
Sunk Costs A sunk cost is a cost that has already been incurred and cannot be recovered.
Superimposing To put one image on top of another; to add some of the qualities of one system or pattern to another.
Supernormal Profits Profit of a firm over and above what provides its owners with a normal return to capital.
Supplementry Additional Q.A. Two angles whose sum is 1800 two angles whose sum is a straight angle.
Supply It refers to the amount of a good or service that the producers are willing and able to o er to the market at various prices during a given period of time.
Supply Amount of something provided or available to be used; to furnish. Econ. Quantity of a particular commodity which a seller is ready to sell at a given price.
Surety Law A person who binds himself for the payment of a sum of money for another who is already bound for the same.
Surfaced Emerge
Surrender Value The cash value of an insurance policy that you get when you end the policy. Q.A. Same as G.M.
Surrogate Used to describe a person or thing that takes the place of Law A deputy of a judge.
Surveyed to interview to examine.
Susceptible Impressionable easily affected;
Suspend To officially stop for a time; to hang up; to delay.
Suspended To hang something Law To put a stop to for the time being; to debar or withdraw.
Suspense uncertainty anxiety; a tale of mystery. Acct. Suspense account temporary account for recording part of a transaction.
Sustainable That can be continued for a long time. Law Sustained by any party aggrieved raised by.
Sustained Maintain; suffer; uphold; bear.
Symmetrical Proportionate in parts.
Syndicated Oligopoly When the firms come together and sell their products with the common interest is called as a Syndicate Oligopoly.
Synonymous Conveying same meaning
Tabulate To arrange in charts or table wise.
Taint Not expressed; implied.
Tainted Stain; blemish; corruption
Tangent Line touching circle but not cutting it. Q.A. Length of tangent point of contant the distance from the point of contant to the inter section of the tangent line with the x-axis.
Tangible That can be seen clearly to exist. Acct. Tangible asset one having physical substance and a life greater than one year
Tariff Tax paid on goods coming into or going out of a country; a list of fixed prices charged by a hotel for rooms, meals etc. Acct. Same as G.M. Econ. Same as G.M.
Tear Rip, more quickly; a drop of liquid falling from eye.
Technological Unemployment Econ. When some workers are replaced by introduction of new machines.
Tempered Having a particular type of mood.
Temporary Lasting for a short period Acct. Temporary account. Account that does not appear on the Balance Sheet.
Tenure Period of holding. Law Mode or system of holding land or tenement.
Terminal Set of buildings where an passengers arrive and leave; a place where journeys by train, bus or boat begin or end; at the end of 5th. Acct. Input output device allowing a user to communicate directly with a computer.
Terminate To bring to end; to end
Terribly Very badly; in a dreadful manner.
Theorem A rule or principle than can be proved to be true.
Total Utility It is the sum of utility derived from di erent units of a commodity consumed by a consumer.
Towards. in the direction of; closer to a point in time; in relation to.
Traceable Costs A traceable cost is a cost for which there is a direct, cause-and-effect relationship with a process, product, customer, geographical area, or other cost object.
Traditionally Conventionally. Being part of customs or way of life of a particular group that has not changed.
Traffic Rush ; the vehicles that are on road; illegal trade. Law illegal business or activity.
Trafficking To buy and sell something illegal; ex. drug
Trained person who is taught to do a particular job.
Transaction Deal; performance of business Acct. Events or happenings in a business that change its financial position.
Transmission Transfer; process of sending out an electronic signal or message.
Transmitting To send an electronics signal; transfer; conduct.
Treasury Govt. department that controls public money. Law place where public monies are kept.
Tremendous Huge; Remarkable.
Trend A general direction Law drift or general course in money market Q.A General drift, tendency, or bent of a set of data.
Trial Balance Listing of the account balances from the general ledger in a statement to show separately the debit and credit balances.
Tribunal Court of justice. Law A judicial assembly.
Trough / Depression A trough is the stage of the economy's business cycle that marks the end of a period of declining business activity and the transition to an expansion.
Ultimately finally Law in the end.
Unambiguous Clear in meaning
Unanimous All agreeing together
Unavoidable impossible to avoid or prevent Account unavoidable costs cost to be uncurred regardless of the decision to make or buy.
Underdeveloped having less industries and a low standard of living Eco Same as gen. meaning
Understand to know or realise the meaning of words.
Unearned money that you receive but do not earn by working. Law Same as gen meaning
Unflatter Making Sb/5th seem less attractive than they really are.
Unified To unite into one.
Uniform Special set of clothes worn by all members of an organisation; or by children of a school; not verifying. Same in all parts and at all times. Q.A. Uniform acceleration constant acceleration; in which there are equal changes in velocity in equal intervals of time.
Unilateral Done or decision taken by one member of a group without agreement of the other members; involving one side only.
Unimaginative Dull; lack of new ideas.
Unimodal Maths Unimodular Matrix A matrix whose determinant is equal to 1. variance the amount by which it changes from the planned amounts. Acct. Deviation between actual cost and standard cost. Q.A.- square of standard deviation. Law-Difference.
Universal of or for all. Q.A. Universal Set. The set of all objects admissible in a particular problem.
Unpaid Not yet paid.
Unprecedented That have never happened before.
Unrealised not achieved or created; not sold or changed in form of money Account unrealised loss, gain Change in value of an asset that is still being held.
Unregulated Market It is also called a free market as there are no stipulations on the transactions.
Unrequited Love not returned by the person that you love
Unsold not purchased by anyone.
Unwieldy Cumbersome; difficult to move or control.
Up gradation Improving the condition in order to provide better service; promotion; making more powerful and efficient.
Upgrade To promote; To make a piece of machinery etc. more powerful & efficient. Law Same as gen. meaning.
Upholding To support that you think is right. Law To maintain or defend.
Utility Utility is the anticipated satisfaction by the consumer, and satisfaction is the actual satisfaction derived.
Vague Uncertain; indistinct; absent minded.
Validity Legally & officially acceptable; justness
Valuation Estimated cost. Acct. Valuation Account item offset against or added to the gross amount of an account to arrive at a net balance.
Variable Fluctuating Econ. Variable cost Costs which vary directly with the rate of output. Q.A. A symbol used to represent an unspecified member of some set.
Variable Cost These costs are a function of output and hence vary with the production.
Variable Proportions It states that as the quantity of one factor is increased, keeping the other factors fixed, the marginal product of that factor will eventually decline.
Variance Amount by which 5th changes or is different. Acct. Difference bet. actual cost and the standard cost; difference of revenue, costs, and profit firm planned amounts. Law Divergence Q.A. Measure of a dispersion of probability distribution.
Variant A thing that is a slightly different form or type of another.
Variation A change, esp. in the amount or level of 5th Q.A. A variation SY of a function Y is a function SY which is added to Y to give a new function Y + SY.
Veblen Effect Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases, an apparent contradiction of the law of demand, resulting in an upward-sloping demand curve. Some goods become more desirable because of their high prices.
Venture Undertaking
Verified Confirmed Law proved by good evidence.
Vertical Perpendicular; upright.
Vessel A large ship; a container; a tube that carries blood.
Vested interest A personal reason for wanting something to happen.
Vindictive To harm or upset; spiteful.
Violated To go against or refuse to obey a law, order etc.
Virtual Being in fact, in effect.
Virtue Moral, worth, advantage.
Vocational Connected with knowledge skill etc that you need to do a particular job.
Vogue Fashion; mode; practice.
Voidable That may be avoided, or declared void.
Volatile Unstable.
Voluntarily Without being forced.
Voluntary done willingly
Voluntary Unemployment Self created unemployment. Econ. A unemployment condition in which everything is depended on his willingness. Vowel Letter which can be surrounded by it self ex. a.e.i.o.u.
Voluntary Unemployment Econ. When some people are unwilling to work or some people who got a continuous from of income, need not work are voluntary unemployed.
Vulnerable Weak and easily limit; liable to injury.
Wagering & Law Bet.
Waived Forego.
Waiver A situation in which subject gives up a legal right or claim.
Warehousing Store house for goods.
Warranties Guarantee Law Stipulation collateral to the main purpose of the contact, the breach of which gives rise to a claim for damages but not a right to reject the goods.
Warranty Guarantee Acct. An agreement by the seller to satisfy for a stated period of time deficiencies in the items quality or performance It provides for repair or replacement Law a promise that a proposition of fact is true.
Wasting Assets Acct. Fixed asset with limited life and subject to depreciation.
Wear To have clothes on; to be wasted or consumed.
Welfare Prosperity;
Wharfinger An owner of wharf (landing place for cargo)
Wholesaler A person who sales in bulk quantity.
Widespread Existing or happening over a large area or many people.
Willingness Not objecting to do Law to comply.
Withdraw Pull out; to take back; to retire.
Witness One who gives evidence in court; proof; to watch game; person who sees something happen. Law Same as G.M.
Working Capital Money needed to rum a business Acct. Same as economics Econ. Net current assets minus current liabilities.
Worsen Deteriorate
Write off Transfer of the entire balance of an asset amount into an expense or loss account; elimination of a specific customer's account balance because of uncollectibility. Acct. Same as G.M.
Written Expressed in writing.
Yardstick A ruler for measuring one yard; standard used for judging how good or successful a thing is.
Yield Give way; to produce or provide, example profit, crop etc; surrender Acct. Real rate of return to investor. Q.A. Same as Acct.
Zenith Peak


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