ValueIn determining the monetary equivalent for assets and gifts, value is a good faith estimate of the fair market value if the exact value is neither known…
Value-added tax (VAT)A type of tax system which adds a fixed percentage of taxation on products and services at each step of production or service delivery.
Value-based pricingPricing a product based on buyer perceptions of value rather than actual product costs.
Variable costsInput costs that change as the nature of the production activity of its circumstances change; for example, as production levels vary.
Variance reportA summary of how much a company has gone above or below budget.
VisaAn official endorsement on a document or passport denoting that the bearer may proceed.
Visa Expiration DateThe visa expiration date is shown on the visa. This means the visa is valid, or can be used, from the date it is issued until the date it expires, for…
Visa NumbersCongress establishes the amount of immigration each year. Immigration for immediate relatives is unlimited; however, family and employment preference…
Visa ValidityThis generally means the visa is valid, or can be used, from the date it is issued until the date it expires, for travel for the same purpose for visas…
Visa Waiver Program (VWP)Citizens of participating countries meeting the Visa Waiver Program requirements may be allowed to enter the United States as visitors for pleasure or…
Volume purchaseThe purchase of large quantities of a product or service.
Voluntary initiativesInitiatives within the tourism industry are not legally required or binding.
Voluntary Service ProgramAn organized project that a religious or nonprofit charitable organization does to provide help to the poor or needy or to further a religious or…
VoucherDocuments that are exchanged for goods and service to substantiate payment that will be or already has been made.