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Definition of Wage Flexibility
Ease with which wages adjust in response to excess supply or demand.
The amount paid to employees for services rendered; synonymous with salary expense and payroll expense.
wage that maximizes profits.
Ease with which prices adjust in response to excess supply or demand.
wage expressed in base-year dollars, calculated by dividing the money wage by a price index.
An incomes policy in which wages and prices are constrained by law not to rise by more than a specified percentage.
Resistance of wages to change.
The proportion of total taxable wages for laid off
An hourly wage rate set by the federal government below
For investment companies, the management fee and "other expenses,"
Reflects the relative amount of wealth wasted in making transactions. An efficient
Reflects the amount of wasted energy.
The percentage of the assets that were spent to run a mutual fund (as of the last annual
Charged to an expense account, fully reducing reported profit of that year, as is appropriate for
Related: pricing efficiency.
The speed and accuracy with which prices reflect new information.
Marketplace price efficiency
The degree to which the prices of assets reflect the available marketplace
Also called external efficiency, a market characteristic where prices at all times fully
Semi-strong form efficiency
A form of pricing efficiency where the price of the security fully reflects all
Pricing efficiency, where the price of a, security reflects all information, whether or
Weak form efficiency
A form of pricing efficiency where the price of the security reflects the past price and
What was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans.
The total amount that was spent to run a company this year.
What was spent to run the sales part of a company, such as sales salaries, travel, meals, and lodging for salespeople, and advertising.
Those that vary with the amount of goods you produce or sell. These may include utility bills, labor, etc.
The costs incurred in buying, making or producing goods and services.
Accrued expenses payable
expenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
An expense account that represents the portion of the cost of an asset that is being charged to expense during the current period.
Costs involved in running the company.
The amount of expense incurred for the general operation of an office.
The amount paid to employees for services rendered; synonymous with salary expense and wage expense.
Payroll tax expense
The amount of tax associated with salaries that an employer pays to governments (federal, state, and local).
expenses that have been paid for but have not yet been used up; examples are prepaid insurance and prepaid rent.
The amount of expense paid for the use of property.
The amount paid to employees for services rendered; synonymous with payroll expense and wage expense.
accrued expenses payable
The account that records the short-term, noninterest-
fixed expenses (costs)
expenses or costs that remain the same in amount,
Operating expenses that vary in proportion to
expenses that vary in close proportion to changes
expenses that change with changes in either sales volume
a measure of the degree to which tasks were performed
labor efficiency variance
the number of hours actually worked minus the standard hours allowed for the production
manufacturing cycle efficiency (MCE)
a ratio resulting from dividing the actual production time by total lead time;
overhead efficiency variance
the difference between total budgeted overhead at actual hours and total budgeted
variable overhead efficiency variance
the difference between budgeted variable overhead based on actual input activity and variable overhead applied to production
The reduction in value of an asset as it is used for current company operations.
Labor efficiency variance
The difference between the amount of time that was budgeted
Any expense associated with the general, sales, and administrative
An expenditure that is paid for in one accounting period, but which
Market prices reflect all publicly available information.
Market prices rapidly reflect all information that could in principle be used to determine true value.
Market prices rapidly reflect all information contained in the history of past prices.
The ability to produce the things most wanted at the least cost.
Current Income Tax Expense
That portion of the total income tax provision that is based on
Deferred Income Tax Expense
That portion of the total income tax provision that is the result
Income Tax Expense
See income tax provision.
Cost of doing business which does not change with the volume of business. Examples might be rent for business premises, insurance payments, heat and light.
management expense ratio (MER)
The total expenses expressed as an annualized percentage of daily average net assets. MER does not include brokerage fees and commissions, which are also payable by the Fund.
The amount of money the company must spend on overhead, distribution, taxes, underwriting the risk and servicing the policy. It is a factor in calculating premium rates.
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