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.

Learn new Accounting Terms

F&A is Facilities and Administrative Costs (aka Indirect Costs or Overhead), Fabrication & Assembly, Finance & Administration, or Finance & Accounting.

SPOT RATE is the price at which a currency can be purchased or sold and then delivered within two business days, e.g., spot dollar.

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