Total Cost of Ownership – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Finance, Personal Finance, and Valuation Principles

What is the Total Cost Of Ownership?The sum of total price of an asset and the operational costs of owning it gives the Total Cost of Ownership (TCO). Asset purchasing decisions should take into account not only the sale price of an asset but also the expenditure that...

Uncertainty Avoidance – Explained

by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior

What is Uncertainty Avoidance?Uncertainty avoidance is a cross-cultural phenomenon that describes how different cultures or societies react to and tolerate uncertainties. More specifically, it refers to how communities cope with unpredictability and uncertainty that...

Uniform Accounting Act – Explained

by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting

What is the Uniform Accounting Act?The Uniform Accounting Act is a model licensing law that was created to foster a uniform accounting system. This model law contains regulations that promote public and private interests. How is the Uniform Accounting Act Used?Aside...

Universal Product Code (UPC) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is a Universal Product Code (UPC)?The Universal Product Code (UPC) is a type of barcode that is attached to every retail product sold in stores around the world. It is a twelve – digit product code for identification of every retail item, the barcode aids...

United Nations Standard Product and Services Classification – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is the United Nations Standard Product and Services Classification (UNSPSC)?This United Nations Standard Product and Services Classification (UNSPSC) is a classification scheme that covers all types of goods and services that are used in the ecommerce industry....

United Nations Dangerous Goods Number – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is the United Nations Dangerous Goods (UNDG) Number?United Nations Dangerous Goods (UNDG) Number is a four-digit number assigned by the United Nations committee of experts on the Transport of Dangerous Goods. The function of this number is to find out dangerous...

Unitary Tax System – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Taxation

What is a Unitary Tax System?Unitary tax system is a taxation approach whereby the income of profits (and losses) of different branches of a corporation are calculated under one group. Unitary tax system is also called Formulary apportionment, under this system, all...

Uniform Residential Loan Application – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is the Uniform Residential Loan Application?How Does the Uniform Residential Loan Application Work? What is the Uniform Residential Loan Application?Uniform Residential Loan Application is a standardized loan form used in the mortgage...

Tournament Theory (Economics) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Tournament Theory?Tournament theory refers to the theory in personnel economics utilized in describing specific situations where wage differences are based on relative differences between individuals as against being based on marginal productivity. How Does...

Uptick (Trading) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Investments, Trading, and Financial Markets

What is an Uptick?When trading of a financial instrument occurs at a higher price than the preceding round, it is known as uptick or plus tick. It is an increase in the market price of a financial instrument over the previous transaction. Even if the market price...