What Is Abnormal Spoilage? Abnormal spoilage is the amount of waste or destruction of inventory that a firm experiences beyond what is expected in normal business operations or production processes. Abnormal spoilage can be the result of broken machinery or from inefficient operations, and it is considered to be at least partially preventable. In accounting
What Is Above the Market? “Above the market” refers to an order to buy or sell at a price higher than the current market price. The most common above the market order types include limit orders to sell, stop orders to buy, or stop-limit orders to buy. Above the market can be contrasted with “below the
What Was the Automated Bond System (ABS)? The Automated Bond System (ABS) was an early electronic bond-trading platform the New York Stock Exchange (NYSE) used from 1977 to 2007. The system was used to record bids and offers for inactively traded bonds until they were canceled or executed on the exchange. The ABS was replaced in
What Is an Absentee Landlord? An absentee landlord is an individual or corporate or state entity that owns and rents out real estate but is not located on or near the property. An absentee landlord stands in contrast to an owner-occupied landlord, one who lives in the rental property. Absentee landlords are usually those that
What Is Absenteeism? Absenteeism refers to the habitual non-presence of an employee at their job. Habitual non-presence extends beyond what is deemed to be within an acceptable realm of days away from the office for legitimate causes such as scheduled vacations, occasional illness, and family emergencies. Possible causes of over-absenteeism include job dissatisfaction, ongoing personal
What Is an Absentee Owner? An absentee owner is an individual or corporation that legally owns a particular property without actually occupying it or actively managing it. The term absentee owner is intended to distinguish between property owners that are hands-on with their investment versus those who are largely hands off. Technically, an individual can be considered
What Is Absolute Frequency? Absolute frequency is a statistical term describing the number of times a particular piece of data or a particular value appears during a trial or set of trials. Essentially, absolute frequency is a simple count of the number of times a value is observed. Absolute frequency is usually expressed as a
What Is Absolute Advantage? Absolute advantage is the ability of an individual, company, region, or country to produce a greater quantity of a good or service with the same quantity of inputs per unit of time, or to produce the same quantity of a good or service per unit of time using a lesser quantity
What Is a 408(k) Plan? The term 408(k) account refers to an employer-sponsored retirement savings plan. A 408(k) plan allows employees to put aside pretax dollars away for retirement that grow on a tax-deferred basis, making it a type of individual retirement account (IRA). This means that individuals pay taxes when they make withdrawals after
What Is a 403(b) Plan? The term 403(b) plan refers to a retirement account designed for certain employees of public schools and other tax-exempt organizations. Participants may include teachers, school administrators, professors, government employees, nurses, doctors, and librarians. The 403(b) plan, which is closely related to the better-known 401(k) plan, allows participants to save money
