Investopedia explains: Reconciliation is an accounting process in which two sets of records are compared to make sure that the figures are in agreement. These sets of records are usually account balances.
Investopedia explains: The asset turnover ratio is a measure of a company's ability to use its assets to generate sales or revenue, and is a calculation of the amount of sales or revenue generated per dollar of assets.
Named after economist Thorstein Veblen, who introduced the term "conspicuous consumption," a Veblen good is one whose demand increases as its price increases because consumers see it as an exclusive status symbol.
Selling, general and administrative expenses (SG&A) are a company's total direct and indirect costs from selling its product or service as well as its total general and administrative expenses. The company reports its SG&A on the income statement.
The wealth effect is a psychological phenomenon that causes people to spend more as the value of their assets rises. The premise is that when consumers' homes or investment portfolios increase in value, they feel more financially secure, so they increase their spending.