On-Us Item What is an 'On-Us Item' An on-us item is a check or draft that is presented to the bank where the check writer has the funds on deposit. The check can be cashed or deposited int

Make To Order (MTO) What does 'Make To Order - MTO' mean Make to order (MTO) is a business production strategy that typically allows consumers to purchase products that are customized to t

Absolute Auction What is 'Absolute Auction' A type of auction where the sale is awarded to the highest bidder. Absolute auctions do not have a reserve price which sets a minimum required b

Rain Check What is 'Rain Check' A rain check is a promise or commitment from a seller to a buyer that an item currently out of stock can be purchased at a later date for the current day's

Sales Price Variance What is 'Sales Price Variance' The difference between the amount of money a business expects to sell its products or services for and the amount of money it actually s

DefinitionBait-and-switch is a form of fraud used in retail sales, but also employed in other contexts. Bait And Switch What is 'Bait And Switch' A dishonest marketing tactic in which a ma

Canceled Order What is 'Canceled Order' 1. A previously submitted order to purchase or sell a security that is canceled before it has been executed on an exchange. 2. An order that can't

DefinitionA quartile is a type of quantile. The first quartile is defined as the middle number between the smallest number and the median of the data set. The second quartile is the median o

Qualified Appraisal What is 'Qualified Appraisal' An appraisal document that is created, signed and dated by a qualified appraiser and meets the requirements set forth by the Internal Reve

DefinitionVeblen goods are types of luxury goods for which the quantity demanded increases as the price increases, an apparent contradiction of the law of demand. Consumers actually prefer m