Glossary

This glossary is a collection of terms (and their meanings) heard frequently in the daily life of the Controller's Office. Some are specialized, others are more commonplace - and our intent in compiling them is to help MIT staff, faculty, and students conduct their Controller's Office business more effectively.

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Unallowable Costs (please also see Sensitive Items)

Any cost that cannot be included in prices, cost-reimbursements, or settlements, under the provisions of any pertinent law, regulation, or contract, including Government contracts to which that cost might otherwise be allowable.

Unrestricted

Refers to resources that are available for the general purposes of the Institute and are not restricted by donors as to use.

UPC

Universal Product Code is a bar code language that provides inventory and pricing reference data.