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LIMITED LIABILITY COMPANY: A relatively new legal firm type that operates very much like a partnership, but in which every owner has limited liability. The advantage of a limited liability company, over a limited partnership, is that every owner has limited liability. It also has advantages over an S corporation in that very few restrictions exist on who can be an owner.

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ASSUMPTION

An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.

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WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?

Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"The roots of education are bitter, but the fruit is sweet."

-- Aristotle

NPV
Net Present Value
A PEDestrian's Guide
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