Glossary Uncategorized

GLOSSARY BUSINESS ADMINISTRATION – Words and its meanings used in Business

Words start with a letter A

A1 :

Top quality rating applicable to various business situations,e.g., credit worthiness and More general reference to qualify and fitness for purpose.

Abandoned property :

Property which has been abandoned by the owners.

Abandonment :

The voluntary relinquishment of a right by express worlds or by action. This term can be used in the context of rights or obligations under a contract, over property, person or voluntary withdrawal from the commission of a crime.

Accept :

Accept term referring to Bill’s of exchange. To accept the bill to pay amount at specified date in future.

Accident :

An unforeseen incident caused by carelessness,ingnorance or unawareness. The affected party can claim compensation if accident results in injury.

Accrual :

See accrued expenses.

Account :

A record in a ledger of the transaction that have taken place with a particular person or thing.

Account balance :

Net debit or net credit amount in specific account in the ledger.

Account form :

Arrangement of a financial statement as a two sided account .

Account payable :

Amount owing by an enterprise.

Account payee:

Words used on a crossed cheque to indicate that it may be paid the bank account of the payee only.

Account sales :

A record prepared by a broker consigner or agent indicating the purchased for the owner.

Accountant :

One who specialises in managing financial accounts of business and industry.

According profit :

It is measured by generally accepted principles of accounting as contrasted with taxable income.

Ad damnum :

The specific clause of a complaint that deals with the damage suffered and claimed by the plaintiff.

Added value :

Enables and justifies a profit in business.

Addendum :

An added section of information in a letter report.

Administration :

Above management so for as different functions in the organisation.

Admission :

A statement of a party involved in a claim admitting all or some part of the other party claims is called admission.

Advance :

A sum paid by way of a loan or as a payment on account.

Advertisement :

To search potential employers from outside the organisation.

Affidavit :

A sworn statement in writing confirmed on oath by the party who makes it before someone who is officially entitled to administer oaths.

Agent :

A person who provides a particular service.

Agreement :

The way of arrangement or contract agreed between people.

Agribusiness :

Farming industry on a large conporate scale.


The weakening of a signal on a communication.


A statement made by a party in a pleasing which he/she is prepared to prove.

Allotment :

The allocation of share by the director of a company following applications for them by intending shareholders.

Allowance :

A deduction from an invoice granted for a reason other than prompt payment the amount that an employee is entitled to spend on.

Amendment :

When two or more companies combine or unite to form one large organisation.

Amendment :

Minor improvement.

Analyse :

Analyse the expense under each head of Account, between the various elements of cost.

Analysis :

Detailed examination of the elements or structure of something.

Annual subscription :

Treated as revenue receipts.

Apparent :

Cleary seen or understood.

Apple :

A personal computers, first produced in 1976 which is bared on a motorola micro processor.

Apple box :

Used in films,TV ,etc.,. wooden boxes of various sizes which are used to elevate actors and celebrities.

Application :

Filing of the requisite court form to initiate a legal proceedings or a request made to a court.

Aptitude test :

Measuring human performance characteristics related to possible development.

Arbitrator :

An independent person or body officially appointed to a dispute.

Argument :

A reason advanced to prove a point to rebut.


Anything owned by an individual.

Assets :

Anything of value which is owned by an individual, company, organisation,etc..,

Assistant :

A person who provides helps in a particular role or type of work.

Assumption :

Assumption means assume some value.

Assurance :

The statement or promise intended to give confidence.

Auction :

A public sale in which goods are sold to the highest bidder.

Auctioneers :

A person who conducts auction.


Examination of the conducts of a company.

Audit report :

A report made by an auditor upon financial statement.

Auditing :

Inspect an organisation’s account.

Auditor :

Person appointed by a company.


Based on facts accurate.

Avoidable cost :

One which may be eliminated by taking a particular action.

Avoidance :

Involves withdrawal of parties from the scene of the conflict.

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