What Is Gross Net Written Premium Income (GNWPI)? Gross net written premium income (GNWPI) is the dollar amount of an insurance company’s premiums that are used to determine what portion of premiums is owed to a reinsurer. Gross net written premium income is the base to which the reinsurance premium rate is applied, taking into account cancellations, refunds, and premiums
What Is Gross Profit? Also referred to as net income, gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. Gross profit will appear on a company’s income statement and can be calculated by subtracting the cost of
What Is the Gross Rate of Return? The gross rate of return is the total rate of return on an investment before the deduction of any fees, commissions, or expenses. The gross rate of return is quoted over a specific period of time, such as a month, quarter, or year. This can be contrasted with
What Are Gross Receipts? Gross receipts are sales of a business that form the basis for corporate taxation in a handful of individual states and certain local tax authorities. The components of gross receipts vary by state and municipality. Understanding Gross Receipts Gross receipts means the total amount of all receipts in cash or property
What Is Gross Sales? Gross sales is a metric for the total sales of a company, unadjusted for the costs related to generating those sales. The gross sales formula is calculated by totaling all sale invoices or related revenue transactions. However, gross sales do not include the operating expenses, tax expenses, or other charges—all of
What Is the Graduate Record Examination (GRE)? The graduate record examination (GRE) is a standardized exam used to measure one’s aptitude for abstract thinking in the areas of analytical writing, mathematics, and vocabulary. The GRE is commonly used by many graduate schools in the U.S. and Canada to determine an applicant’s eligibility for the program.
What Was the Great Depression? The term “Great Depression” refers to the greatest and longest economic recession in modern world history. The Great Depression ran between 1929 and 1941, which was the same year that the United States entered World War II in 1941. This period was accentuated by a number of economic contractions, including the
What Is the Great Leap Forward? The Great Leap Forward was a five-year plan of forced agricultural collectivization and rural industrialization that was instituted by the Chinese Communist Party in 1958, which resulted in a sharp contraction in the Chinese economy and between 30 to 45 million deaths by starvation, execution, torture, forced labor, and
What Was the 2008 Great Recession? The Great Recession was the sharp decline in economic activity that started in 2007 and lasted several years, spilling into global economies. It is considered the most significant downturn since the Great Depression in the 1930s. The term “Great Recession” applies to both the U.S. recession, officially lasting from
What Was the Great Society? The Great Society was a set of domestic policy initiatives, programs, and legislation introduced in the 1960s in the U.S. These Great Society programs were intended to reduce poverty levels, reduce racial injustice, reduce crime, and improve the environment. Great Society policies were launched by then-President Lyndon B. Johnson between 1964 and 1965. Johnson first
