Examlex
The current ratio is calculated as follows: current liabilities divided by current assets.
Agent of Necessity
A person who is appointed to act on behalf of another in situations of urgent necessity, without prior authorization from the principal.
Extravagance
The act or habit of spending more money than is necessary or wise; often associated with lavish or luxurious expenditure.
Credit Card
A plastic card issued by banks or financial institutions allowing the holder to borrow funds at the point of sale, which they then pay back at a later date.
Non-necessary Purchases
Expenditures on items or services that are not essential for basic living or business operations.
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