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Science / Tides and Currents / Time: Time is measured by the rotation of the Earth with respect to some point in the celestial sphere and may be designated as sidereal, solar, or lunar, according to whether the measurement is taken in reference to the vernal equinox, the Sun, or the Moon. Solar time may be apparent or mean, according to whether the reference is to the actual Sun or the mean Sun. Mean solar time may be local or standard, according to whether it is based upon the transit of the Sun over the local meridian or a selected meridian adopted as a standard over a considerable area. Greenwich time is standard time based upon the meridian of Greenwich. In civil time the day commences at mid-night, while in astronomical time, as used prior to 1925, the beginning of the day was reckoned from noon of the civil day of the same date. The name universal time is now applied to Greenwich mean civil time.
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Science / Tides and Currents / Civil Time: Time in which the day begins at midnight as distinguished from the former astronomical time in which the day began at noon. MORE
Business / Accounting / Time Value Of Money: Comparison of a lump sum of money, or a series of equal payments, between two different time periods (e.g., present and future), assuming a specified interest rate and time period. (Reference: The Tim MORE