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Simple English definitions for legal terms
traffic balance
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A quick definition of traffic balance:
Term: Traffic Balance
Definition: Traffic balance refers to the amount of money collected by transportation companies for carrying passengers and goods. It is the balance between the income earned from transportation services and the expenses incurred in providing those services. In simpler terms, it is the money earned by transportation companies for moving people and things from one place to another.
A more thorough explanation:
Definition: Traffic balance refers to the balance of money collected for transporting passengers and freight.
Example: If a transportation company collects $10,000 for transporting passengers and $15,000 for transporting freight, the traffic balance would be $25,000.
Explanation: The example illustrates how traffic balance is calculated by adding up the money collected for transporting passengers and freight. It is important for transportation companies to maintain a traffic balance to ensure that they are collecting enough money to cover their expenses and make a profit.