ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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MUTUAL AGENCY Definition
MUTUAL AGENCY is the right of all partners in a partnership to act as agents for the normal business operations of the partnership, with the authority to bind it to business agreements.
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STRATEGIC ASSET, in relation to the assets held by a legal entity, means an asset or group of assets that the entity needs to retain if the entity is to maintain the entitys capacity to achieve or promote any outcome that the entity determines to be important to the current or future well-being of the entity.
SEVERANCE TAX is levied on production of natural resources taken from land or water bottoms within the territorial boundaries of a state.