Letter of Credit
Letter of credit is a financial document issued by a bank guaranteeing payment to a seller, provided certain conditions are met. Common in international trade, it protects both buyer and seller by ensuring that funds will be released once shipment or delivery terms are fulfilled.
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LIFO (Last In, First Out)
A US-permitted inventory valuation method where the most recently acquired inventory is assumed to be sold first. LIFO is allowed under US…
Leveraged Buyout
A leveraged buyout is the acquisition of a company using significant borrowed funds, often secured by the target’s assets. Accounting…
Loss Ratio
Loss ratio measures the proportion of claims paid by an insurer relative to premiums earned. It evaluates underwriting performance and…
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