ASSUMPTION Definition

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ASSUMPTION, generally, is one or more beliefs or unconfirmed facts that contribute to a conclusion. Specifically, it is the act of taking on the responsibility or assuming the liabilities of another.

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ACCOUNTING DATA is all the information and data contained in journals, ledgers and other records that support financial statements, e.g. spreadsheets. It may be in computer readable form or on paper.

EXCHANGE RATE MECHANISM (ERM) is the precursor to the European Union's single currency (Euro) by which participating governments committed themselves to maintain the value of their currencies in relation to the European currency unit (Euro).

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