BUSINESS VALUATION Definition

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BUSINESS VALUATION is the act or process of determining the value of a business enterprise or ownership interest therein by determining the price that a hypothetical buyer would pay for a business under a given set of circumstances.

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RANDOM SELECTION is a probability-based selection protocol in which each unit has a known probability of being selected. The chances of selection need not be equal for each unit, as long as the chances are known for each unit.

EXTERNAL is from or between other countries, e.g. external commerce; or, happening, arising or located outside or beyond a company, e.g. external influences.

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