Plumbing Arithmetic Flashcards
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considered as fixed cost
interest, taxes, amortization, insurance
reduction in the level of national income and output usually accompanied by the fall in the general price level
Deflation
market whereby there is only one buyer of an item for which there are no good substitute
Monopsony
market situation where there is only one seller with many buyer
Monopoly
a condition where only few individuals produce a certain product and that any action of one will lead to almost the same action of the others.
Oligopoly
a market which there are few buyers but many sellers
Oligopsony
market situation where there are few sellers and few buyers
bilateral oligopoly
market situation where there is one seller and one buyer
bilateral monopoly
Market situation where there is one seller and one buyer
bilateral monopoly
situation in which two suppliers dominate the market for a commodity service
duopoly
market situation where there are only two buyers and many sellers
DUOPSONY
occurs in a situation where a commodity or service is supplied by a
number of vendors entering the market
PERFECT COMPETITION
direct labor cost incurred in the factory and direct material cost; the sum of
these two direct cost
PRIME COST
artificial expense that spread the purchase price of an asset or another
property over a number of year; decrease in the value of a physical property due to passage
of time
DERECIATION
present worth of all depreciation over the economic life of the
item
DEPRECIATION RECOVERY
estimated value at the end of useful life
SALVAGE VALUE
amount which a willing buyer will pay to a willing seller for a property where
each has equal advantage
MARKET VALUE
gross profit, sales less cost of goods sold, as a percentage of a sale
GROSS MARGIN
worth of the property equals to the original cost less depreciation
BOOK VALUE
grand total of the assets and operational capability of corporation
AUTHORIZED CAPITAL
liquid assets such as cash and other assets that can be converted quickly
into cash
CURRENT ASSETS
amount by which revenue from sales exceeds costs in a business
PROFIT MARGIN
those funds that are required to make the enterprise or project going
WORKING CAPITAL
future value less the present value
DISCOUNT
the profit derived from a project or business enterprise without
consideration of obligations to financial contributions
ECONOMIC RETURN
Intangible value which is actually operating concern due to its operation
GOING VALUE
nterest rate at which the present worth of the cash on the project is zero of
the interest earned by an investment
RATE OF RETURN
as applied to capitalized asset, the distribution of the initial cost by periodic changes to operation as in depreciation or reduction of debt
AMORTIZATION
value which has a disinterested third party, different from the buyer and seller, that determines the price acceptable to both parties
FAIR VALUE
method of depreciation whereby the amount to recover is spread
uniformly over the estimated life of the asset in terms of the periods or units of output
STRAIGHT LINE METHOD
a method of computing depreciation in which the annual charge is a fixed percentage of the depreciation book value at the beginning of the year
DECLINING BALANCE METHOD
method of depreciation where a fixed sum of money is regularly
deposited at compound interest in a real or imaginary fund in order to accumulate an amount
equal to the total depreciation of an asset at the end of the asset’s estimated life
SINKING FUND METHOD
the lessening of the value of an asset due to the decrease in the quantity
available (referring to the natural resource like coal, oil, etc.)
DEPLETION
an association of two or more persons for a purpose of engaging in a profitable business
PARTNERSHIP
simplest form of a business organization
SOLE PROPRITORSHIP
distinct legal entity which can practically transact any business transaction
a real person could do
CORPORATION
type of ownership in business where individual exercise and enjoy the right in their own interest
PRIVATE
true value of interest rate computed by equations for compound interest
for 1-year period
EFFECTIVE INTEREST
interest payment divided by principal amount
INTEREST RATE
represents ownership and enjoys certain preferences than ordinary stock
PREFERED STOCK
represents ownership of stockholders who have a residual claim on the
assets of the corporation after all other claims have been settled
COMMON STOCK
a certificate of indebtedness of a corporation usually for period not less than 10 years and guaranteed by mortgage on certain assets of the corporation
BOND
bond where the corporation pledges securities which it owns,
stocks, bonds of its subsidiaries
COLLATERAL TRUST BOND
bond which does not have security except a promise to pay the issuing
corporation
DEBENTURE BOND
bond issued jointly by two or more corporations
JOINT BOND
bond where guaranty in in lien on railroad equipment
EQUIPMENT OBLIGATIONS BOND
the security of the bond is a mortgage on certain specified asset of a corporation
MORTGAGE BOND
bond where the corporation’s owners names are recorded and the
interest is paid periodically to the owners
REGISTERED BOND
bond to which coupons are attached indicating the interest due and the
date when such interest is to be paid
CUOPON BOND
deliberate lowering of the price of a nation’s currency in terms of
the accepted standard
CURRENCY DEVALUATION
denotes the fall in the exchange rate of one currency in terms of others
CURRENCY DEPRECIATION
graphical presentation of cumulative frequency distribution in a set of statistical data
OGIVE
frequency curve composed of series of rectangles with the steps as the base
and frequency as the height
HISTOGRAM
the sharpness of the peak of a frequency-distribution curve
KURTOSIS
having a greater kurtosis than the normal distribution; more concentrated
about the mean
LEPTOKURTIC
sequence of numbers where the succeeding term is greater than the
preceding term
DIVERGENT SERIES
sequence of numbers where the succeeding term is less than the
preceding term
CONVERGENT SERIES
unsuitable or unusual combination
DISSONANT SERIES
without change of intervals
ISOMETRIC SERIES
part of theorem which is assumed to be true
HYPOTHESIS
statement of truth which is admitted without proof; proposition of a general logical nature
AXIOM
statement of truth which follows little or no proof from the theorem
COROLLARY
refers to the construction of drawing lines and figures
POSTULATE
mathematical statement which has neither been proved nor denied
CONJECTURE
proved proposition which is useful mainly as a preliminary; ancillary theorem whose
result is not target
LEMMA
proposition that is reached from given premises
CONCLUSIONS
a mistaken belief, especially one based on unsound argument
FALLACY
a statement of proposition that despite sound reasoning, leads to a conclusion that seems senseless
PARADOX
1, 3, 6, 10, 15, 21…
triangular numbers
1, 4, 9, 16, 25 …
square numbers
1, 5, 12, 22, 35 …
pentagon numbers
1, 8, 27, 64, 125 …
cubic numbers
1, 4, 10, 20, 35, 56 …
tetrahedral numbers
an equation in which variables appear under radical symbol
IRRATIONAL EQUATION
an equation which is satisfied by all values of the variable
RATIONAL EQUATION