What is a land contract and how does it works?
A land contract is a contract between the buyer and seller of a piece of...
DefinitionA landlocked state or landlocked country is a sovereign state entirely enclosed by land, or whose only coastlines lie on closed seas. There are...
What is a 'Lapping Scheme' A lapping scheme is an accounting method that involves altering the accounts receivable section of the balance...
What is lead time and why is it important
In the business world, lead time is the amount of time that elapses between the start...
What is the law of diminishing marginal utility
The law of diminishing marginal utility is the principle that as a person consumes more of a...
What is 'Last Fiscal Year - LFY' The most recent 12-month accounting period that a business uses when determining its annual financial...
DefinitionA layoff is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees for business reasons,...
DefinitionIn probability theory, the law of large numbers is a theorem that describes the result of performing the same experiment a large number of...
What is 'Lady Godiva Accounting Principles - LGAP' A theoretical set of accounting principles under which corporations would have to fully disclose...
What is 'Layered Fees' Two sets of management fees that are paid by an investor for the same group of assets. This...