Exam: GMAT (Verbal)

Definition: Not easily turned into cash or lacking cash and liquid assets.

Example: Investing in illiquid assets can be risky because they cannot be quickly sold for cash.

Definition: The state in which an asset cannot be easily converted into cash or is not easily sold in the market.

Example: The company's illiquidity made it difficult for them to meet their short-term financial obligations.

Definition: To bring a lawsuit against someone in court, especially in response to a previous legal claim.

Example: The company decided to implead the contractor for breach of contract.

Definition: A behavior or action that is rude or disrespectful to others.

Example: His incivility during the meeting made everyone uncomfortable.

Definition: The state of not having the skills or ability to do something effectively or properly.

Example: His incompetency in managing the project led to many mistakes.

Definition: A small increase or addition to something, often part of a series of increases.

Example: The company announced an increment in salaries for all employees this year.

Definition: Currently holding a specific position or office, often used in the context of politics or roles.

Example: The incumbent president will run for re-election next year.

Definition: A person who currently holds a specific position or office, especially in a job or role.

Example: The incumbent of the position will serve for another four years after the election.

Definition: Having a duty to someone because of a favor or a loan; feeling grateful to someone for help or support.

Example: She felt indebted to her friend for helping her through a tough time.

Definition: A process or agreement that provides compensation or protection against loss or damage.

Example: The company offered indemnification to its employees for any legal costs incurred while performing their duties.

Definition: To provide compensation or protection to someone for damage, loss, or injury they have experienced.

Example: The company agreed to indemnify the employees for any legal costs incurred during the lawsuit.