Alternative term for non random variation.
Abnormal termination or cancellation of a computer program (or a computing session) which results in irretrievable loss of unsaved data and may require a reboot of the system. Abortion may be (1) intentional where the user cannot reach a satisfactory conclusion of a process and needs to start over, (2) initiated by the operating system itself (see system crash), or (3) caused by a power failure. See also ABEND.
Not very exact. In commercial documents, 'about' is taken to mean a difference (tolerance) not more or less than 10 percent of the stipulated amount, quantity, or unit price. See also approximately.
Non-technical risk such as that associated with markets, political environment, or prices.
Cost of a good or service that is more than the average cost of comparable goods or services.
Accounts that cover a full accounting period but omit detailed financial information. Abridged accounts are used, for example, to support an initial proposal or to present summary data. See also abbreviated accounts.
Shortened or condensed (but not summarized) version of a written work which preserves the overall meaning, structure, and style of the original version. Also spelled as abridgement. See also abstract, digest, outline, précis, summary, and synopsis.
To cancel or nullify an agreement or contract, either unilaterally or with mutual consent.
The horizontal ('X') axis of a chart or graph. The vertical ('Y') axis is called 'ordinate.'
Property owner who does not occupy his or her property and either rents it out or leaves it vacant, but does not abandon it. Also called absentee owner.
Alternative term for absentee landlord.
Voluntary non attendance at work, without valid reason. Absenteeism means either habitual evasion of work, or willful absence as in a strike action. It does not include involuntary or occasional absence due to valid causes, or reasons beyond one's control, such as accidents or sickness. See also attendance management.
In the theory of international trade, a country or firm has an absolute advantage if it can produce a product (good or service) more 'efficiently' (cheaply) than others. First suggested by the UK economist Adam Smith (1723-90) as an extension of his division of labor doctrine. See also absolute cost advantage and competitive advantage.
Assignment in which all (and not merely a portion of) benefits, liabilities, and/or rights are transferred by one party to another, without any pre-condition. See also collateral assignment.
Type of auction where the highest bidder acquires the item being auctioned (irrespective of the bid amount), and where the item does not have a reserve price below which it will not be sold.
numerical change in an empirical value, e.g. cost of goods was reduced by $9.00.
Competitive advantage that a firm or a country obtains through cheaper inputs, innovation, proprietary know how, waste minimization, or other such means resulting in lower average costs. See also acquired advantage.
Error expressed without regard to its plus (+) or minus (-) sign. For example, overstating a number by 5 will give the same absolute error as by understating it by 5.
Alternative term for strict liability.