Pay out day refers to the designated day on which the securities or funds are paid out to the members by the clearing house.

Pay in day refers to the designated day on which the securities or funds are paid in by the members to the clearing house.

1) Give a person what is due to him for services rendered, goods provided, debt given. 2) Give (generally a specific amount) for work done. 3) (of a business) be advantageous to a person.

An individual who lends money against pledged valuables which are deposited physically with lender.

A customer, especially a regular customer of a retail store. Customers who have established loyalty for a product or an outlet for sale or service.

This theory states that the relationship between the behavior of the leader and the attitude of the subordinates to their work and their performance is situational. The core of this theory is that the leader smoothens out the path to work goals and rewards his subordinates for attaining them.

A person having a patent.

A specialized department of the government authorized to grant patents and the registration of patents, trade marks and designs.

It is a from of intellectual property right of other patent holder by virtue of his invention which is registered under the Patent Act for commercial exploitation. Under W.T.O., the TRIPS (Trade related intellectual property rights) mandate patent for IP (Intellectual property) rights for both products and processes. The Indian Patent Law has been revised to fall in line with the W.T.O. provisions. 1) An authorization by government to an individual or organization granting a right or title especially the sole right to make or use or sell some invention. 2) A document conferring this right. 3) An invention protected by it.

Profit after tax, available for appropriation. Part of PAT is usually paid as dividends, part is carried as reserve or as retained profit into the Balanced Sheet.

A savings account in a bank or post office, paying a low rate of interest and from which withdrawals may be done at any time. Deposits in the saving A/C yields low return but high liquidity.

A book issued by a bank or a post office or some society to an account holder. The book records transactions between the account holder and the institution (i.e. amount deposited/withdrawn by the account holder).

Program Applique Selection Compilation Automatique Literature: A high-level language favoured by many programmers because of its strongly structured character.

Refers to a mode of selling in which the salesman of the company assembles a number of expected customers in a neighbor’s home and there the products are demonstrated and orders are accepted.

A particular product is generally composed of sub-assemblies and parts which in turn could be traced to items at the next level in a typical tree-like product structure. The problem of finding the demand of all components, sub-assemblies for a given demand of the end product is called ‘Part Explosion’.

Partnership management refers to a style of management where both the board and the top management are highly concerned about the mission, objectives, strategies and policies of the corporation and work in tandem to realize them.

According to law, a partnership deed is essential for any partnership formed. The deed comprises rights and obligation of the partners and the terms of its continuance or dissolution.

A kind of business structure where two or more persons enter business with joint ownership and control. Partners have unlimited liability governed by the Partnership Act. A Partnership is dissolved automatically on the death or bankruptcy of a partner.

In a partnership firm there are various types of partners such as 1) Working Partner; 2) Sleeping Partner and 3) Minor Partner.

A person joined with one or more than one person as a contributor of capital in a joint venture who shares in its risks and profit.