To the ineffable all,
There is a lot of confusing and inexact descriptive terminology in the science and engineering fields. Some of it is perpetuated by people and organizations who should know better. Other times it is done because it was always done the wrong way, and no one has the courage to point out the right way. For instance, NASA used to call space suit excursions outside a space vehicle EVA (extra-vehicular activity). Since the first Star Wars movie was released, they started calling it "spacewalking". No journals or reporters ever asked NASA if the astronauts would walk away if their tether broke.
lilimike,
You are right to question the AC/DC terminology. It should be called alternating or sinusoidal excitation, and steady value or constant value excitation. I will leave it to you to select the abbreviations.
Another example is "power supply". It is actually a electrical energy supply. Its power, voltage, and current is a characteristic of the energy supply, yet folks insist on calling it by its characteristics instead of what it really is.
kjennejohn,
Current exists, but does not flow. Current is charge flow. To say "current flow" means "charge flow flow", which is redundant and ridiculous.
I hear a lot about Ben Franklin and others getting it wrong in naming the polarity of the electron negative. Actually it does not matter. There are just as many positive charge carriers in the universe as negative charge carriers like electrons. All electrical calculations should be done using the conventional polarity method. This assumes that a positive voltage source will output a positive charge carrier out the positive terminal. Then if is necessary to determine the actual direction of the real charge carrier, it is easy to say that a positive charge carrier in one direction is the same as a negative charge carrier in the opposite direction. This eliminates the wonderment of whether a charge carrier is positive or negative or which direction charge is moving. You already mentioned that semiconductor manufactures mark their products using the conventional polarity. Did you notice also that ammeters are marked the same way?
And finally I contend that Ohm's law is a property of a material which can be called electrical linearity, and is not V=IR. V=IR is the definition of resistance and should be called the resistance formula. There has been a fierce debate about this recently.
Ratch