Board of Directors
See alsoA group of individuals elected by stockholders, who as a body manage… (Read more)…
Financial Law
Risk Management
Financial Definition of Risk Management
Meaning of Risk Management
The process of identifying and evaluating risks and selecting and managing techniques to adapt to risk exposures.
Related Entries of Risk […]
Double Taxation
Double Taxation Definition (in the Accounting Vocabulary) The New York State Society of Certified Public Accountants offers the following definition of Double Taxation in a way that is easy for anybody to understand: The act of taxing corporate earnings twice, once as the NET INCOME of the […]
Subsidiary
Legal Definition and Related Resources of Subsidiary
Meaning of Subsidiary
As applied to a corporation , it is one that is controlled by another corporation. For legal purposes, a subsidiary corporation is a distinct legal entity from the parent […]
Taxable Income
All income classified as earned income within the meaning of Section 911 of the Internal Revenue Code of 1954 (26 U.S.C.S. §911) is taxable. Income is the excess of incoming receipts over outgoing expenditures. See United States v Basye, 410 U.S. 441, 93 S. Ct. 1080.
Bond
Legal Definition and Related Resources of Bond
Meaning of Bond
A contract under seal to pay a sum of money ; a contract under seal acknowledging a debt, present or future. This is a single bond. A double bond is one where there is a condition […]
Contract
Legal Definition and Related Resources of Contract
Meaning of Contract
A deliberate engagement between competent parties upon a legal consideration to do or abstain from doing some act. It is essential to the creation of a contract that the […]
Loan
Call Loan Definition (in the Accounting Vocabulary) The New York State Society of Certified Public Accountants offers the following definition of Call Loan in a way that is easy for anybody to understand: Loan repayable on demand. Also known as DEMAND LOAN. Loan Definition (in the Accounting […]
Penalty
Legal Definition and Related Resources of Penalty
Meaning of Penalty
A punishment . Suffering in person or property as a punishment annexed by law or judicial decision to a violation of law. Also a definite sum named in a contract , not as a […]
Sole Proprietorship
A business owned by a single individual. The sole proprietorship pays no corporate income tax but has unlimited liability for business debts and obligations….