SPIN-OFF Definition

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SPIN-OFF is a type of corporate reorganization in which the original corporation transfers some of its assets to a newly formed corporation. In exchange for the spun off assets, the original corporation receives all of the new corporations capital stock, which it then distributes to its shareholders as a property dividend.

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UNDERBUDGETED is a line item within a budget to where the budgeted amount is not sufficient to cover the actual amount.

PRESCRIBED SECURITY generally means any bond, debenture, stock, stock certificate, Treasury bill or other like security, or any coupon, warrant or other document for the payment of money in respect of such a security, issued by a government authority.

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