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[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]What is Unit Elastic?Definition: Unit elastic refers to a change in price that results in a proportional change in demand for a certain product. An increase in price will lead to a fall in demand and a decrease in...

What is Unlimited Liability? Definition: A business owner who has unlimited liability is personally liable for the debts of the business. Sole proprietorships and general partnerships fall within this category. The sole proprietor of a proprietorship or a general partner of a partnership will have to pay...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]What is Unsystematic Risk?Definition: A company’s stock price may fall due to factors that are specific to the industry that it operates in. The reduction in share value may also be due to poor management practices within the company....

What is Vouching? Definition: Vouching is an essential part of the audit process. It involves checking the entries in the books of account with the supporting documentary evidence. What does Vouching mean? The vouching exercise allows the auditor to confirm that a company’s financial transactions are correctly recorded....

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]What is Year to Date (YTD)?Definition: The period from the beginning of the year to the current date is referred to as the year to date period. The phrase is often referred to by its initialism, YTD.What does Year...

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