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An alphabetical listing of General terms and items. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Labor Force   People of working age who are available for paid employment, including the unemployed looking for work, but excluding categories such as full-time students, careers, and the long-term sick and disabled. Lapse   The termination of an option without trade in the underlying security or commodity. Law Of Diminishing Returns   A rule stating that as one factor of production is increased while others remain constant, the extra output generated by the additional input will eventually fall. The law of diminishing returns therefore means that extra workers, extra capital, extra machinery, or extra land may not necessarily raise output as much as expected. Lease Utilization   Lease utilization: Is a financial ratio which measures how much the company uses leasing arrangements to acquire its fixed assets. The two types of leases are operating leases and capital leases. Correspondingly, there are two types of lease utilization ratios: Operating Lease Utilization and Capital Lease Utilization. Lemon   A product, especially a car, that is defective in some way. Letter Of Agreement   A document that constitutes a simple form of contract. Letter Of Credit   A letter issued by a bank that can be presented to another bank to authorize the issue of credit or money. Leverage   A method of corporate funding in which a higher proportion of funds is raised through borrowing than share issue. Liability   A debt that has no claim on a debtor's assets or less claim than another debt. Liability Insurance   Risk protection for actions for which a business is liable. License   A contractual arrangement, or a document representing this, in which one organization gives another the rights to produce, sell, or use something in return for payment. Licensing Agreement   An agreement between two enterprises allowing one to sell the other's products or services and to use their name, sales literature, trademarks, copyrights, etc. in a limited manner. Lifestyle   A pattern of living that comprises an individual's activities, interests and opinions. Limited Partnership   A legal partnership where some owners are allowed to assume responsibility only up to the amount invested. Liquid Assets   Financial assets that can be quickly converted to cash. Liquidity   The ability of a business to meet its financial responsibilities. The degree of readiness with which assets can be converted into cash without loss. Loan   Money lent with interest. Loan Agreement   A document that states what a business can and can not do as long as it owes money to the lender. Long Term Assets   (sometimes called fixed assets) these are usually non-liquid assets that are integral to the enterprise's day to day business operations such as plants, equipment, furniture and real estate. Long Term Liabilities   All debts that are not current liabilities, that is, debts that are not due until at least one calendar year in the future. Back to top Long-term Liabilities   The liabilities (expenses) that will not mature within the next year. Low Doc Loans   Are mortgages that require much less documentation or proof of income than a regular mortgage. Low doc loans in Australia are similar in nature to Subprime loans in the United States. Back to top