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Writ of Execution: Uses, Process, and Common Exemptions What is a writ of execution? A writ of execution is a court order directing law enforcement to enforce a judgment by seizing, garnishing, or selling a debtor’s property to satisfy a money judgment. It converts a court decision (the judgment) into an enforceable transfer of assets…

Writ of Attachment: Definition and Purpose A writ of attachment is a court order that seizes or “attaches” a debtor’s specific property before a final judgment is entered. The property is held under court supervision—often by a law enforcement officer or marshal—to secure satisfaction of a potential future judgment. It is a prejudgment remedy meant…

Understanding Legal Writs: Definitions, Types, and Examples What is a writ? A writ is a formal written order issued by a court or other authority that compels a person or entity to perform—or to refrain from—a specific act. Rooted in English common law, writs remain tools for enforcing court judgments, securing evidence, protecting individual rights,…

Wraparound Mortgage A wraparound mortgage (also called a wrap loan, overriding mortgage, agreement for sale, or all‑inclusive mortgage) is a form of seller financing in which the seller keeps their existing mortgage and extends a new, larger loan to the buyer that “wraps” the original note. The buyer makes payments to the seller, and the…

Wrap-Up Insurance Wrap-up insurance is a project-specific liability program that consolidates coverage for an entire construction project under a single policy. It protects the owner, general contractor, contractors, and subcontractors from specified liability, workers’ compensation, property and equipment loss, and other project-related risks for the duration of the build. Key points Consolidates insurance for all…

Wrap Fee What it is A wrap fee is a single, all-inclusive charge an investment manager or advisor levies for managing an account. It typically covers advisory services, portfolio management, trade execution, and administrative costs. The fee is calculated as a percentage of assets under management (AUM), commonly ranging from about 1% to 3% per…

Wrap-Around Loan: What It Is and How It Works Key takeaways A wrap-around loan is a form of seller financing where the buyer makes payments to the seller, and the seller continues to pay an existing mortgage. The wrap “wraps” the seller’s remaining mortgage balance plus any additional amount financed into a single new loan…

Wrap-Around Insurance Program A wrap-around insurance program is an additional policy that supplements a primary insurance policy to provide coverage gaps—most commonly for punitive damages arising from employment practices liability claims. It “wraps around” an admitted Employment Practices Liability Insurance (EPLI) policy to extend or broaden protection where the primary policy is limited or excludes…

Wrap Accounts: What they are and when they make sense Wrap accounts are investment accounts in which a brokerage or investment manager provides ongoing portfolio management and related services for a single, flat fee—typically charged quarterly or annually and calculated as a percentage of assets under management (AUM). That single “wrap” fee is intended to…

Worthless Securities Worthless securities are stocks, bonds, or other holdings that have no market value and no realistic potential to regain value. When a security is truly worthless — including securities an investor has abandoned — it results in a capital loss that can be claimed on taxes in the year it becomes worthless. Key…

Worldwide Income: Meaning and How It Works Worldwide income is the total of a taxpayer’s earnings from all sources, both domestic and foreign. In countries with residence-based taxation—like the United States—residents and citizens are generally taxed on their worldwide income, regardless of where the income is earned. Who Must Report Worldwide Income U.S. citizens and…

Worldwide Coverage: What It Is and How It Works Worldwide coverage is an option on some insurance policies that extends protection beyond the policy’s normal geographic limits. It typically covers loss, theft, or damage to specified property and certain business-related or crime losses that occur anywhere in the world (subject to policy terms, limits, and…

WorldCom Scandal: Unraveling Fraud and Bankruptcy Overview WorldCom, once a leading U.S. long-distance telecommunications company, collapsed after the exposure of one of the largest accounting frauds in American corporate history. Aggressive acquisition-driven growth masked mounting financial problems that executives concealed through improper accounting. The fraud triggered a historic bankruptcy, major legal penalties, corporate settlements, and…

World Trade Organization (WTO) What the WTO Is The World Trade Organization (WTO) is an international body that sets and enforces rules for global trade among its member countries. Created in 1995 as the successor to the General Agreement on Tariffs and Trade (GATT), the WTO provides a forum for negotiating trade agreements, monitoring national…

World Insurance Definition World insurance is a commercial liability framework that extends a company’s insurance protection to claims and losses arising anywhere in the world. It fills the gaps left by standard domestic policies, which typically limit coverage to the policy’s home country (for example, the U.S. and Canada). Key takeaways Provides liability and related…

World Gold Council (WGC): Role, Activities, and Why Gold Matters What the World Gold Council is The World Gold Council (WGC) is a market-development organization and industry association made up of major gold producers. Headquartered in London, it represents members that together cover roughly three-quarters of global annual gold consumption. Its core purpose is to…

World Fund A world fund is a mutual fund or investment company that holds securities traded in multiple countries, including the investor’s home country (for U.S. investors, that typically includes U.S. securities). It is sometimes called a global fund, though that term can be ambiguous. Key takeaways World funds invest across several countries, often including…

World Equity Benchmark Series (WEBS) Overview The World Equity Benchmark Series (WEBS) was a family of international equity funds launched in 1996 by Morgan Stanley and traded on the American Stock Exchange. WEBS were structured as hybrid securities with characteristics of both open-end and closed-end funds and were designed to give U.S. investors a simple…

World Economic Outlook (WEO) What the WEO is The World Economic Outlook (WEO) is a semiannual report published by the International Monetary Fund (IMF) that assesses the global economy and provides macroeconomic forecasts for the IMF’s member countries. It is a widely cited source for projections of global and national output, inflation, employment, fiscal balances…

World Economic Forum (WEF) Key takeaways * The WEF is an international, Geneva-based organization that convenes political, business, academic, and civil-society leaders to address global economic and social challenges. * It is best known for its annual meeting in Davos, Switzerland, which draws thousands of delegates for high-level discussion and networking. * The WEF advances…

World Bank Group Overview The World Bank Group is the world’s largest international development institution, focused on reducing global poverty and promoting shared prosperity. Headquartered in Washington, D.C., it brings together finance, knowledge, and technical expertise to support economic development in member countries. Explore More Resources › Read more Government Exam Guru › Free Thousands…

World Bank: Purpose, Structure, Projects, and Financial Overview What the World Bank Is The World Bank is an international financial institution that supports economic development and poverty reduction in low- and middle-income countries. It provides low-interest loans, zero-interest credits, and grants for public- and private-sector projects that improve infrastructure, healthcare, education, and job creation. Its…

Understanding Work-in-Progress (WIP) Work‑in‑progress (WIP) refers to goods that are partially completed in the production process. WIP includes the costs of raw materials that have been incorporated, direct labor applied, and a share of manufacturing overhead. On the balance sheet WIP is reported as a current asset until the goods are finished and ultimately sold….

Workout Period: What It Is and How It Works Definition A workout period is the time during which price or yield discrepancies among similar fixed-income securities are expected to correct. It functions as a market “reset,” when new information from issuers, underwriters, or rating agencies is released and the market re-prices bonds to better reflect…

Workout period: definition and overview A workout period is the interval during which price or yield disparities among similar fixed‑income securities are expected to correct. It is effectively a market “reset” when issuers, underwriters, rating agencies, or new information prompt revaluation so bonds with comparable credit, coupon, and maturity trade more consistently with one another….

Workout Agreement Key takeaways A workout agreement is a negotiated contract between a borrower and lender to restructure a loan that is in default. Its goal is to help the borrower resume payments while allowing the lender to recover more of the loan than through foreclosure or litigation. Terms vary case-by-case; agreements can affect credit…

Working Tax Credit (WTC) What it is The Working Tax Credit (WTC) is a UK state benefit that provides financial support to people who work and have low incomes. It is a means‑tested payment: entitlement and the amount paid depend on an applicant’s individual circumstances. Key points WTC is for low‑income workers in the UK….

Working Ratio The working ratio measures a company’s ability to recover its operating costs from annual revenue. It focuses on operating performance by excluding non-operating items such as depreciation and debt-related expenses. Formula Working Ratio = (Total Annual Expenses − (Depreciation + Debt Expenses)) / Annual Gross Income Explore More Resources › Read more Government…

Working Interest What it is A working interest is a form of ownership in an oil and gas lease that gives the owner both the right to a share of production and the obligation to pay a proportionate share of exploration, drilling, completion, and operating costs. Unlike a royalty interest, which receives production revenue without…

Working Control Working control occurs when a minority shareholder—or a coalition of minority shareholders—holds enough voting power to influence or determine a company’s policies and strategic direction, even though they own less than a majority (51%) of voting shares. In widely held companies without a single majority owner, a stake often around 20% can be…

Working class The working class broadly describes people who earn wages through work that often does not require a college degree and frequently involves physical or routine tasks. Definitions vary by discipline and culture, but the term typically contrasts with those who derive income from ownership or managerial control. Key takeaways Working class generally refers…

Working Capital Turnover Definition Working capital turnover measures how effectively a company uses its short-term resources (working capital) to generate sales. It shows how many dollars of revenue are produced for each dollar of working capital employed. Formula Working capital turnover = Net annual sales / Average working capital Explore More Resources › Read more…

Working Capital Management Working capital management (WCM) is the process of overseeing a company’s short-term assets and liabilities to ensure it has sufficient liquidity to run daily operations while minimizing idle capital. Effective WCM prevents cash-flow interruptions, supports sustainable growth, and reduces financial risk. Key takeaways WCM ensures a business has enough cash to meet…

Working Capital Loans Working capital loans provide short-term funding to cover a company’s day-to-day operating expenses — payroll, rent, utilities, and other immediate obligations. They help businesses bridge timing gaps between cash outflows and inflows, especially for companies with seasonal or cyclical sales. Key takeaways Finance everyday operations rather than long‑term assets. Useful for seasonal…

Working Capital (Net Working Capital) Definition Working capital, or net working capital (NWC), is the difference between a company’s current assets and its current liabilities. It measures short-term liquidity — a company’s ability to fund operations and meet near-term obligations. Why it matters Indicates short-term financial health and operational efficiency. Helps assess whether a company…