Month: September 2020

The oil price to natural gas ratio compares prices of crude oil and natural gas and is used as a measure of demand for each commodity. Energy analysts, traders and investors use the ratio when gauging the market of oil versus that of natural gas. In the oil price to natural gas ratio formula, the oil price is the numerator and the price of natural gas is the denominator.

Prime costs are a firm’s expenses directly related to the materials and labor used in production. It refers to a manufactured product’s costs, which are calculated to ensure the best profit margin for a company. The prime cost calculates the direct costs of raw materials and labor that are involved in the production of a good. Direct costs do not include indirect expenses, such as advertising and administrative costs.

An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. The production and consumption of goods and services are used to fulfill the needs of those living and operating within the economy, which is also referred to as an economic system.

Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, is an Internal Revenue Service (IRS) form used by an executor of a decedent’s estate to calculate the estate tax owed according to Chapter 11 of the Internal Revenue Code. The tax is levied on the entire taxable estate, not just on the share a specific beneficiary receives. Executors also use Form 706 to calculate the generation-skipping transfer tax (GSTT) imposed by Chapter 13.

A gift inter vivos, which means a gift between the living in Latin, is a legal term that refers to a transfer or gift made during the life of the grantor. Inter vivos gifts, which includes property related to an estate, are not subject to probate taxes since they are not part of the donor’s estate at death. An inter vivos transfer is one made during the grantor’s lifetime.

A commission is a service charge assessed by a broker or investment advisor for providing investment advice or handling purchases and sales of securities for a client.

Accounts payable (AP) is an account within the general ledger that represents a company’s obligation to pay off a short-term debt to its creditors or suppliers. Another common usage of AP refers to the business department or division that is responsible for making payments owed by the company to suppliers and other creditors.

The national currency of Jordan is the Dinar. The currency abbreviation or currency symbol for the Jordanian Dinar is denoted by JOD. The dinar has smaller denominations or subunits. In particular, one dinar is equal to 10 dirhams, 100 qirshes, and 1,000 fils. The dinar is also circulated on Israel’s West Bank.

A commission is a service charge assessed by a broker or investment advisor for providing investment advice or handling purchases and sales of securities for a client.

Accounts payable (AP) is an account within the general ledger that represents a company’s obligation to pay off a short-term debt to its creditors or suppliers. Another common usage of AP refers to the business department or division that is responsible for making payments owed by the company to suppliers and other creditors.