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GLOSSARY OF BUSINESS AND FINANCIAL TERMS

V


VALID - Being legaly sufficient, having binding force, and being authorized by law.

VALUE IN USE - The true value of an economic good to its owner or user or sometimes prospective buyer that is based on the productivity of the economic good to that specific individual.

VARIABLE COSTS - Costs which change depending on the level of sales. These could include commissions for salespeople, sales discounts, etc.

VARIABLE or FLOATING RATE - An interest rate that varies with the bank's prime rate. 

VOID - Having no legal effect.

VOLUME - An amount or quantity. The "volume" of a  business is the total it sells over a period of time.
 

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