GIFTS-IN-KIND are non-cash gifts of tangible or intangible property. Tangible property can fall into two distinct categories, and its value is derived from its physical existence: 1. objects, such as equipment, software, automobiles, printed materials, etc.; or, 2. services, such as providing photography services. Intangible personal property is property whose value stems from intangible elements, e.g. patents and copyrights.
DIRECT LABOR BUDGET is a budget of planned expenditures for direct labor. The direct labor budget indicates the rate per hour and the number of hours necessary to meet production requirements. See OPERATING BUDGET.
SYSTEMATIC RISK is the risk that is common to all risky securities and cannot be eliminated through diversification. When using the capital asset pricing model, systematic risk is measured by beta.
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