| GAAP | Generally accepted accounting principles approved by DCA, ICAI, SEBI, RBI, CAG and IASB |
| | |
| GDP | A measure of the total production of final goods and services in the economy during a year. |
| | |
| General agency system | In a marketing organization, a person is an exculsive incharge of a territory for all marketing activity. |
| | |
| General average | In marine insurance, a loss incurred for the common good of all stakeholders and is shared by all. |
| | |
| Geometric Mean | nth root of the product resulting from multiplying a series of return relatives minus one. |
| | |
| Gilt schemes | A government security scheme invests only in government bonds |
| | |
| Grace Period | A specified time period after the due date for payment of premium, allowing the policyholder to make the payment as the policy continues without any break during this period. |
| | |
| Grace period | A certain period when the policyholder pays overdue life insurance premium without causing the policy to lapse. |
| | |
| Gratuity | It is a retirement benefit and is paid at the cessation of employment or retirement. Different schemes for Govt. and other employees are in practice. Tax treatment also differs. |
| | |
| Gross Total Income | Computed on the following heads of account as per sections 80C - 80U of ITA: (i) Income from Salaries (ii) Income from house property (iii) Profits and gains of business or profession less expenditures.(iv) Capital gains (v) Income from other sources |
| | |
| Group Insurance | A single master policy containing the particulars of insurance cover involving a number of people issued generally to the employer or the association to which they are affiliated. |
| | |
| Guardian | He will normally act after the death of the surviving spouse but can act jointly with the spouse in certain circumstances. He is responsible to provide support to the Children, and look after their health and education. |
| | |