|GAAP: Generally accepted accounting
principles established by the Financial Accounting
Standards Board, since 1973.
|Garnishment: Forced payment of a debt
or direct withholding of wages of the debtor.
|GATT-General Agreement on Tariffs and
Trade: A multinational trade agreement
regarding trade issues and policies.
|Generic: A non-branded product sold at
prices generally below those of name-brand
|Ginnie Mae: The nickname for the
Government National Mortgage Association (GNMA). A
government-owned corporation that acquires,
packages, and resells mortgages in the form of
|Gold standard: A national monetary
standard using gold as the basis.
|Golden Handcuffs: An employment
contract between employer and employee that pro-
vides lucrative compensation and benefits during
an employee's tenure with the firm. However, if
the employee leaves, s/he is liable for repayment
of the compensation and benefits received during
his or her employment.
|Golden Parachute: A lucrative severance
package negotiated for a top executive in the
event of a takeover.
|Goodwill: The intangible assets of a
business that impact its overall value. Such
assets might include company reputation, loyal
customer base, brand recognition, and employee
|Greenmail: Repurchase of company stock
from a potential acquirer in return for assurances
that the acquirer will not pursue the takeover of
the company. Generally, the purchase price of the
stock is inflated by the acquirer.
|Gross Profit: The amount remaining
after the cost to produce a product (cost of goods
sold) is subtracted from the net sales.
|Gross Domestic Product (GDP): Total
value of all goods and services provided by
workers at companies located within the U.S.
borders. “Real GDP” is adjusted for inflation.
|Guarantee: A promise by a company that
its goods and services will perform as advertised.
|Guaranty: An agreement to be
responsible for the obligations of another
individual or business.
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