The amount of money required to
repay the principal and interest on a debt for
each defined payment interval (e.g., month or
year) during the term of the loan.
Debt Service Funds
Received resources from
other funds, taxes, grants, or proceeds from
long-term debt that are used to pay the
principal and interest on the debt.
Ratio calculated by
dividing a business' total liabilities by its
equity to measure the degree to which a
business is financing its operations through
structure in which decision-making and daily
operations are delegated by the upper level of
an organization and distributed among lowerlevel
structure in which designated
personnel/operating departments from within
the organization have the delegated authority
to select the sources of supply and contract
directly with suppliers without consulting or
receiving approval from the chief procurement
officer (CPO). It should be noted that the
scope and degree, if any, of decentralized
procurement varies from agency to agency.
See also: Centralized Purchasing.
A chart or diagram in which each
branch of a tree represents an outcome,
decision, or reaction that is used to determine
a statistical probability or course of action.
1. The monetary value placed by a shipper on a
shipment of goods when it is delivered to the
2. The value placed on imported goods by an
importer for clearance through customs.
Failure to fulfill a contractual obligation
(e.g., failure to repay a debt, properly perform
work, or perform work by an agreed-upon
An imperfection or shortcoming,
especially one that renders a good unable to
be used for the ordinary purposes pursuant to
the warranty for which it is sold and used. See
also: Latent Defect.
1. The number of defects found in any quantity
of a product, divided by the total number of
units, then multiplied by one hundred.
2. The average number of defects per hundred.