What Is Positive Confirmation? Positive confirmation is an auditing inquiry that requires the customer to respond, confirming the accuracy of an item. Positive confirmation requires proof of accuracy by affirming that the original information was correct or by providing the correct information if incorrect. Key Takeaways Positive confirmation is an auditing inquiry that requires the
What Is Positive Correlation? A positive correlation is a relationship between two variables that move in tandem—that is, in the same direction. A positive correlation exists when one variable decreases as the other variable decreases, or one variable increases while the other increases. Because these two different variables move in the same direction, they theoretically
What Are Possible Reserves? Possible reserves is one of three classifications set by the Society of Petroleum Engineers (SPE) for assessing the likelihood that a known accumulation of oil can be commercially extracted. Possible reserves refers to unproved reserves for which the likelihood of successful extraction is at least 10%—assuming existing equipment is used and
What Is a Posted Price? The posted price is the price at which buyers or sellers are willing to transact for a particular commodity. Depending on the circumstances, the posted price may differ materially from the market price of that commodity. The market price is the current price at which an asset or service can be bought or sold.
What Is Post-Retirement Risk? The term post-retirement risk refers to any and all of the potential risks to financial security that an individual may encounter after retiring. Post-retirement risks result in unexpected costs or lower-income, either of which can jeopardize even the best-laid retirement plans. Some of the most common post-retirement risks include the death
What Is Post-Trade Processing? Post-trade processing occurs after a trade is complete. At this point, the buyer and the seller compare trade details, approve the transaction, change records of ownership, and arrange for the transfer of securities and cash. Post-trade processing is especially important in markets that are not standardized, such as the over-the-counter (OTC)
What Is a Pour-Over Will? A pour-over will is a legal document that ensures an individual’s remaining assets will automatically transfer to a previously established trust upon their death. Key Takeaways With a pour-over will, an individual’s remaining assets will automatically transfer to a previously established trust upon their death.Pour-over wills can be used with
What Is Poverty? The term poverty refers to the state or condition in which people or communities lack the financial resources and essentials for a minimum standard of living. As such, their basic human needs cannot be met. Poverty-stricken people and families may go without proper housing, clean water, healthy food, and medical attention. Each
What Is the Poverty Gap? The poverty gap is a ratio showing the average shortfall of the total population from the poverty line—the minimum level of income required to secure the basic necessities for survival. In other words, it reflects the intensity of poverty in a nation. Key Takeaways The poverty gap reflects the intensity of poverty in
What Is a Poverty Trap? A poverty trap is a mechanism that makes it very difficult for people to escape poverty. A poverty trap is created when an economic system requires a significant amount of capital to escape poverty. When individuals lack this capital, they may also find it difficult to acquire it, creating a
