What Is the Lower of Cost or Market Method? The lower of cost or market (LCM) method states that when valuing a company’s inventory, it is recorded on the balance sheet at either the historical cost or the market value. Historical cost refers to the cost at which the inventory was purchased. The value of
What Is Long-Run Average Total Cost (LRATC)? Long-run average total cost (LRATC) is a business metric that represents the average cost per unit of output over the long run, where all inputs are considered to be variable and the scale of production is changeable. The long-run average cost curve shows the lowest total cost to
What Is the Liberian Dollar (LRD)? The term Liberian dollar (LRD) refers to the official currency of the Republic of Liberia. The currency was introduced in 1847 after Liberia became an independent nation. It is printed and its value is maintained by the Central Bank of Liberia, which was established in October 1999. This currency circulates alongside
What Is the London Stock Exchange (LSE)? The London Stock Exchange (LSE) is the primary stock exchange in the United Kingdom and its largest. Originated more than 300 years ago, the regional exchanges were merged in 1973 to form the Stock Exchange of Great Britain and Ireland, later renamed the London Stock Exchange (LSE). The
What Is an L-Shaped Recovery? An L-shaped recovery is a type of recovery characterized by a slow rate of recovery, with persistent unemployment and stagnant economic growth. L-shaped recoveries occur following an economic recession characterized by a more-or-less steep decline in the economy, but without a correspondingly steep recovery. When depicted as a line chart
What Is the Lesotho Loti (LSL)? The Lesotho loti (LSL) is the official currency of the Kingdom of Lesotho. One loti can be subdivided into 100 units known as lisente. LSL coins are issued in denominations of 1, 2, 5, 10, 20 and 50 lisente, and 1, 2 and 5 loti. LSL banknotes are issued
What Is Long-Term Care (LTC) Insurance? Long-term care (LTC) insurance is coverage that provides nursing-home care, home-health care, and personal or adult daycare for individuals age 65 or older or with a chronic or disabling condition that needs constant supervision. LTC insurance offers more flexibility and options than many public assistance programs, such as Medicaid.
What Is Last Twelve Months (LTM)? Last twelve months (LTM) refers to the timeframe of the immediately preceding 12 months. It is also commonly designated as trailing twelve months (TTM). LTM is often used in reference to a financial metric used to evaluate a company’s performance, such as revenues or debt to equity (D/E). Although
What Is a Lucas Wedge? A Lucas Wedge is a measure of the loss of potential gross domestic product (GDP) when the economy does not grow as fast as it would have given optimal policy choices. It shows how much higher living standards would have been without the inefficiencies created by poor policy decisions, also
Ludwig von Mises was an influential Austrian economist. He is known as an advocate of free-market capitalism and a staunch opponent of socialism and interventionism. Von Mises taught at the University of Vienna and New York University and published his most renowned work, Human Action, in 1940. Ludwig von Mises died on Oct. 10, 1973.
