Recessionary Gap Recessionary Gap is a macroeconomic phrase that describes when a nation's real GDP is lesser than its GDP at high engagements. Also known as the Contractionary Gap...
Confession of Judgment A Confession of Judgment is a formal contract written by the respondent accepting accountability and the agreed-upon sum of damages. This is a strategy to avoid going to court...
Great Recession Great Recession was a broad decrease in national economies including gross domestic products and unemployment rates throughout the world between 2007 and 2009.
Professional service organization Professional service organization is an organization of professional people organized under professional’s association laws and treated as
Professional pricing A pricing policy-practiced by doctors, lawyers, and others with skills or experience in a particular field-of charging a standard fee for a
Division of labor Division of labor is the principle of organization that a job can be performed more efficiently if the jobholder is allowed to specialize;
Cancellation provision Cancellation provision is the process of comparing and evaluating alternatives in order to budget funds for future, generally major,
Waiver-of-premium provision Waiver-of-premium provision refers benefit that can be added to a life insurance policy providing for waiver of all premiums coming due
Time limit on certain defenses provision Time limit on certain defenses provision in an individual health insurance policy that prohibits the company from canceling the policy or denying a claim on the basis of a preexisting condition or misstatement in the application after the policy has been in force for
Simplified Employee Pension (SEP) Simplified Employee Pension (SEP) is an employer sponsored individual retirement account that meets certain requirements. Paper work is reduced for employers who wish to cover employees in a
Definition