ASSET REVERSION Definition

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ASSET REVERSION is asset recovery by the sponsoring employer through termination of a defined benefit pension fund and/or of assets in excess of amounts required to pay accrued benefits of a pension fund. In the U.S., assets recovered through reversion are subject to corporate income tax and an excise tax.

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MERCHANDISING CONCERN is an entity that derives its revenue through the provisioning of products provided or manufactured by others. See MANUFACTURING CONCERN.

KIP is a currency of Laos.

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