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P
partnership:
A legal business relationship of two or more people who share
responsibilities, resources, profits and liabilities.
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passive
investment management: the managing of a mutual fund or other
investment portfolio by relying on automatic adjustments such as
indexation instead of making personal judgments.
patent:
a type of copyright granted as a fixed-term monopoly to an inventor by
the state to prevent others copying an invention, or improvement
of a product or process.
payable:
Ready to be paid. One of the standard accounts kept by a bookkeeper is
"accounts payable." This is a list of those bills that are
current and due to be paid.
payment gateway: a company or
organization that provides an interface between merchant's point-of-sale
system, acquirer payment systems, and issuer payment systems.
payment-in-kind:
an alternative form of pay given to employees in place of monetary
reward but considered to be of equivalent value. A payment in kind take
the form of a car, purchase of goods at cost price, or other
nonfinancial exchange that benefits an employee.
Pay
Pal : a Web based service that enables Internet users to send
and receive payments electronically. To open a Pay Pal account, users
register and provide their credit card details. When they decide to make
a transaction via Pay Pal, their card is charged for the transfer.
perception:
The process of selecting, organizing and interpreting information
received through the senses.
perfomance appraisal: a
face-to-face discussion in which one employee's work is discussed,
reviewed, and appraised by another, using an agreed and understood
framework.
petty
cash:
a small store of cash used for minor business expenses.
phantom
income: income that is subject to tax even though the
recipient never actually gets control of it, for example, income from a
limited partnership.
pink
slip:
get your pink slip to be dismissed from employment
piracy:
illegal copying of a product such as software or music.
placement
fee:
a fee that a stockbroker receives for a sale of shares.
planning:
the process of setting objectives, or goals, and formulating policies,
strategies, and procedures to meet them.
poaching:
the practice of recruiting people from other companies by offering
inducements.
point
of purchase: the place at which a product is purchased by the
customer. The point of sale can be a retail outlet, a display case, or
even a legal business relationship of two or more people who share
responsibilities, resources, profits and liabilities.
postdate:
to put a later date on a document or check than the date when it is
signed, with the effect that it is not valid until the later date.
prebilling:
the practice of submitting a bill for a product or service before it has
actually been delivered.
prepaid
expenses: Expenditures that are paid in advance for items not
yet received.
prepaid
interest:
interest paid in advance of its due date.
prepayment
penalty:
a charge that may be levied against somebody who makes a payment before
its due date. The penalty compensates the lender or seller for potential
lost interest.
price:
The exchange value of a product or service from the perspective of both
the buyer and the seller.
price
ceiling: The highest amount a customer will pay for a product
or a service based upon perceived value.
price
control:
government regulations that set maximum prices for commodities or
control price levels by credit controls.
price
discrimination:
the practice of selling of the same product to different buyers at
different prices.
price
floor: The lowest amount a business owner can charge for a
product or service and still meet all expenses.
price
planning: The systematic process for establishing pricing
objectives and policies.
price
war:
a situation in which two or more companies each try to increase their
own share of the market by lowering prices.
principal:
The amount of money borrowed in a debt agreement and the amount upon
which interest is calculated.
probability:
the quantitative measure of the likelihood that a given event will
occur.
probation:
a trial period in the first months of employment when the employer
checks the suitability and capability of a person in a certain role, and
takes any corrective action.
producers:
The components of the organizational market that acquire products,
services that enter into the production of products and services that
are sold or supplied to others.
product:
Anything capable of satisfying needs, including tangible items, services
and ideas.
Product
life cycle (PLC): The stages of development and decline
through which a successful product typically moves.
product
line: A group of products related to each other by marketing,
technical or end-use considerations.
product
mix: All of the products in a seller's total product line.
Profit
and Loss Statement: A list of the total amount of sales (revenues)
and total costs (expenses). The difference between revenues and expenses
is your profit or loss.
profit:
Financial gain, returns over expenditures.
profit
margin: The difference between your selling price and all of
your
costs.
pro-forma: A projection or estimate of what may result in the
future from actions in the present. A pro forma financial statement is
one that shows how the actual operations of the business will turn out
if certain assumptions are achieved.; a document issued
before all relevant details are known, usually followed by a final
version.
pro-forma
invoice: an invoice that does not include all the details of
a transaction, often sent before goods are supplied and followed by a
final detailed invoice.
promotion:
The communication of information by a seller to influence the attitudes
and behavior of potential buyers.
promotional
pricing: Temporarily pricing a product or service below list
price or below cost in order to attract customers.
psychographics:
The system of explaining market behavior in terms of attitudes and life
styles.
publicity:
Any non-paid, news-oriented presentation of a product, service or
business entity in a mass media format.
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