Frictional Unemployment
Frictional Unemployment Frictional unemployment, also known as churning unemployment, is the type of unemployment that results from the mismatch between the skills and abilities of job seekers and the skills and requirements of available jobs. It occurs when there are more job seekers than available jobs, and those job seekers are not able to find […]
Spot Rate
Spot Rate Definition: A spot rate is an interest rate charged for borrowing or lending money in the current market for a specific maturity date. It is a short-term interest rate that applies to transactions settled on the same day. Spot rates are typically quoted for various maturities, such as overnight, one-month, three-months, and six-months. […]
Indifference Curve
An indifference curve is a graphical representation that plots two goods or services at the points where the consumer is indifferent between them. It is a curve that shows the relationship between two goods that a consumer is willing to buy at the same price and quantity. Indifference curves are typically downward sloping and convex […]
Accrued Income
Accrued income is income that has been earned but not yet received. It is usually income earned in the current period but for which payment will be received in the future period. Examples of accrued income include rent, dividends, and interest on loans. The accrual income is recorded on the books of accounts as a […]
Real-Time Gross Settlement (Rtgs)
Real-time gross settlement (RTGS) is a payment system that allows for the transfer of funds between banks in real time, typically within a few seconds. This means that payments are processed immediately, rather than waiting for the next settlement cycle, which can take place daily or several times a week. Here are the key features […]
Abatement
The word “abatement” has several meanings. Here are the most common ones: 1. Reduction: Abatement refers to the reduction of something, such as pain, swelling, or discomfort. For example, “Taking medication can abate the pain.” 2. Cessation: Abatement can also refer to the cessation or stopping of something. For example, “The wind abated after the […]
Direct Marketing
Direct marketing is a type of marketing communication that involves direct, personalized contact between a company and its potential customers. It is typically used to promote products or services directly to consumers through a variety of channels, including email, mail, telemarketing, and social media. Key features of direct marketing: Direct targeting: Direct marketing involves targeting […]
Business Broker
Definition: A business broker is a professional who specializes in the sale and acquisition of businesses. They act as intermediaries between buyers and sellers, facilitating the entire transaction process. Responsibilities: Listing businesses: Brokers list businesses for sale, providing detailed descriptions, financial statements, and marketing materials. Finding buyers: Brokers search for potential buyers who meet the […]
Unearned Premium
Unearned premium is a term used in accounting for insurance policies. It is the portion of premium paid for insurance coverage that is not yet earned by the insurer. Unearned premium is recorded as a liability on the insurer’s balance sheet. Here is an example: An insurance company receives payment for a policy on January […]
Otp
Sure, what do you need to know about OTP (One-Time Password)? OTP (One-Time Password) An OTP is a temporary, unique code that is used to authenticate a user for a particular session. It is often used for secure authentication purposes, such as online banking, e-mail accounts, and mobile phone services. How OTP Works: Token Generation: […]
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