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bankruptcy
bankruptcy in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most instances, to discharge the debtor ...
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mutual fund
mutual fund in finance, investment company or trust that has a very fluid capital stock. It is unique in that at any time it can sell or redeem any of its outstanding shares at net asset value (i.e., the price of a share equals total assets minus liabilities divided by the total number of shares). ...
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leveraged buyout
leveraged buyout the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. The acquiring company or group then repays the loans from the target company's profits or by selling its assets. Many lever...
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bookkeeping
bookkeeping maintenance of systematic and convenient records of money transactions in order to show the condition of a business enterprise. The essential purpose of bookkeeping is to reveal the amounts and sources of the losses and profits for any given period. Proper bookkeeping should also reveal...
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depreciation
depreciation in accounting , reduction in the value of fixed or capital assets, as by use, damage, weathering, or obsolescence. It can be estimated according to a number of methods. In the straight-line method, depreciation is simply seen as a function of time; the cost of the asset, minus its val...
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Muammar al- Qaddafi
Muammar al- Qaddafi , 1942-, Libyan political leader. He graduated from the Univ. of Libya in 1963 and became an army officer in 1965. In 1969 he formed, along with a group of fellow officers, a secret revolutionary committee and led (1969) a successful coup against the monarchy of Idris I. Qaddafi ...
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legacy
legacy bequest by will of personal property , similar in many respects to a gift causa mortis. A legacy ordinarily is distinguished from a devise, which transfers real property by will. The person who receives a legacy is called a legatee. Legacies are of various types. A specific legacy beq...
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Inc. Lilly Endowment
Inc. Lilly Endowment institution founded (1937) at Indianapolis, Ind., by pharmaceutical manufacturer Josiah K. Lilly (1861-1948) as a philanthropic foundation for "the promotion and support of religious, educational, or charitable purposes" ; most of its work is confined to the Midwest. The fou...
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voting machine
voting machine instrument for recording and counting votes. The voting machine itself is generally positioned in a booth, often closed off by a curtain to assure secrecy for the voter.
In the case of older mechanical voting machines, when a voter enters the booth and closes the curtain by mean...
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debenture
debenture , document acknowledging indebtedness. In Great Britain a debenture is practically the same as a bond , and debenture stock is similar to preferred stock. In the United States the term is usually employed for a corporation certificate without special security, such as a mortgage, to back ...
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