U

Ultra Vires

Latin phrase meaning ┬┤beyond powers┬┤; their action was ultra vires = they acted in a way which exceeded their legal powers; see INTRA VIRES

Undeposited funds account (UBR)

noun tax levied on business property which so the same percentage for the whole country

Uncertainty

A situation in which nothing is known about the likely probabilities of future events. It can this be distinguished from Risk where probabilities can be estimated.

UBR

Uniform Business Rate

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