Tag: money
Laughing Heir
DefinitionIn the law of inheritance, a laughing heir is an heir who is legally entitled to inherit the property of a person who has...
Lady Godiva Accounting Principles (LGAP)
What is 'Lady Godiva Accounting Principles - LGAP' A theoretical set of accounting principles under which corporations would have to fully disclose...
Law Of Diminishing Marginal Utility
What is the law of diminishing marginal utility
The law of diminishing marginal utility is the principle that as a person consumes more of a...
Lead Time
What is lead time and why is it important
In the business world, lead time is the amount of time that elapses between the start...
Lapping Scheme
What is a 'Lapping Scheme' A lapping scheme is an accounting method that involves altering the accounts receivable section of the balance...
Land Contract
What is a land contract and how does it works?
A land contract is a contract between the buyer and seller of a piece of...
Learning Curve
What is the 'Learning Curve' A learning curve is a concept that graphically depicts the relationship between cost and output over a...
Law Of 29
What is 'Law Of 29' A belief held by some marketers that on average a prospective customer will not purchase a good...
Lease Option
DefinitionA lease option is a type of contract used in both residential and commercial real estate. In a lease-option, a property owner and tenant...
Law Of Supply And Demand
DefinitionIn microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a...