What is a Quality or New Goods Bias? The other major problem in using a fixed basket of goods as the basis for calculating inflation is how to deal with the arrival of improved versions of older goods or altogether new goods.  Ideally, one would like to know how much of the higher price is due to the quality change, and how much of it is just a high...

What is acceptance of an offer? Acceptance of a contract is the assent of the offeree to the demands contained in the offerors offer. Acceptance of the contract varies depending upon whether the contract is unilateral or bilateral. An offeree accepts a bilateral contract by making the return promise demanded by the offeror. An offeree accepts a unil...

What is Boot for Tax? In business, boot refers to a situation in the exchange market whereby an item, property or money is added to an exchange to make the value of traded goods exact. When cash is added to an exchange to equate the value of the traded goods, it is called cash boot. In the United States, there are certain regulations of boot stated ...

What is a Cash Allowance? Employees of companies are entitled to certain allowances to cater for expenses such as travel expenses, accommodation, wardrobe, medical expenses, and others. When a company pays out such allowance in cash rather than reimburse them at a later date, it is an instance of the cash allowance. A cash allowance is paid out on c...

What is a Capital Gain? A capital gain is the returns acquired from the disposing of assets. Capital gain is achieved when the selling price is higher than the buying price. However, there will be a loss when the buying price is higher than the selling price. Note: This section assumes the idea of asset depreciation. From the definition, we find a s...

What are Long Tail Keywords? Long tail keywords are phrases exceeding two words that define a topic and are usually used by the general public while looking for a topic/product/service on Search Engines. These are very specific phrases that a user is looking for and expects results to reflect them exactly as they are queried (as entered in the searc...

What is Secondary Research? Secondary research regards identifying and using information previously collected by third parties. Below are the most common sources of data for secondary research. Professional (Trade) Resources Professional resources include collections of data and statistics, literary material showing customer activity (such as books,...

What is Home Equity? In simple terms, home equity is the proprietors equity in their home, which is nothing but the total value of the property minus liens. A homeowner can acquire home equity in two ways: 1. By paying a down payment that guarantees an outright ownership claim to a percentage of the property, or 2. By paying mortgage installments fo...

What is Software As A Service (SaaS)? Software-as-a-Service (SaaS) simply describes a software licensing and distribution model that accommodates an external or a third-party provider host application and makes it accessible to internet users. SaaS is located on external servers rather than internal servers. Also, access to SaaS software is based on...

What is Voluntary Termination? Voluntary termination may mean various actions, most popularly the decision of an employee to quit a job of their own accord. Furthermore, it may refer to the act of voluntarily canceling personal financial contracts, like cell phone contracts or car leases, or voluntarily canceling institutional level contracts such a...