ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PRODUCTIVE ACTIVITY Definition
PRODUCTIVE ACTIVITY usually is defined as including activities that have economic value in the marketplace. A more contemporary definition of productive activity includes any activity that produces a valued good or service, even if it is not actually paid for.
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LIMITED LIABILITY is one that does not go beyond the owners investment in the business.
FLOAT is 1. the time between the deposit of checks in a bank and when the amount is truly accessible; 2. the amount of funds represented by checks that have been written but not yet presented for payment. Some entities will play the float by writing checks although there are insufficient funds actually on deposit to cover the checks; and, 3. total shares outstanding less any shares held by officers, directors or beneficial owners of 10% or more. Also called publicly held shares.