Archive:BiP 2009 Section 20 Vocabulary Wiki
Business and its Publics (BiP) 2009. Section 20 Vocabulary Wiki.
Enter new vocabulary terms here, and sign your name. Then contribute definitions to open vocabulary terms. BiP2009S20 20:51, 20 January 2009 (UTC)
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Section 501(c)(3): Section 501(c)(3) of the Internal Revenue Code is a tax law that exempts non-profit organizations from federal income taxes. The organization must not operate for private interests, but public interests. Educational, religious, and charitable corporations generally qualify for Section 501(c)(3). The tax law exemption does not include other federal taxes, such as employment taxes. -Sneha Venkateswaran
TLA stands for Three-Letter Acronym, an abbreviation that consists of three letters. WTO, IMF, and NGO are organizations whose names are written in TLA. WTO is an abbreviation for World Trade Organization, IMF for International Monetary Fund, and NGO for Non-Governmental Organization. WTO is a global organization, established in 1995, that deals with the rules of trade between nations. IMF is another international organization that was established in order to promote international trade, high employment, and economic growth, and encourage monetary cooperation. - Scarlett Lee
Debt is something (usually assets) that is owed to a creditor. It contributes to a decrease in future purchasing power. It is an accumulation of deficits.
Debit is a term used in accounting to keep track of financial transactions. Debits are always recorded on the left side in double-entry accounting. A debit in the asset account is an increase, while a debit in the liabilities or equity accounts is a decrease. Assets = Liabilities + Equity
Deficit occurs when more money is spent than is received. Remedies of a budget deficit include borrowing, issuing of bonds, or sales of assets. However, such solutions can cause inflation. ~Juliet Huang
An Arbitrage Event is when there is a price difference for the same product, but in two different locations. For example, if a security is priced higher in the U.S. than in the U.K. then a savvy investor - with international connections - can purchase the securities overseas to sell them at a profit in North America. This process is common when dealing with hedge funds and other small private investment groups. A more relevant example would be a Merger Arbitrage or risk arbitrage in which an investor buys the stock of a company that will be subject to a takeover whilst shorting the stock of the acquiring corporation. This was the case when Microsoft bid for Yahoo! where millions were made in the process. - Imran Qureshi
Margina cost in economic terms refers to the change in total cost to produce one more unit of a particular good. For example, if sewing one shirt requires the labor of three workers, then the marginal cost of the shirts include the labor of the workers. I think marginal cost, described in terms of the relationship between business, government, and consumers is relevant to our studies. Businesses and firms use the marginal cost to make decisions to generate maximum profit, while consumers use it in their purchasing decisions. In addition, marginal cost also involves social costs as the decisions producers and consumers make necessarily affect the society as a whole. Thus marginal cost must be considered and weighed to balance the objectives of businesses, consumers, and the society.