DISSOLUTION Definition

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DISSOLUTION is the act of ending, terminating or winding-up a company or state of affairs. For example, when the life of a company is ended by normal legal means, it is said to be "dissolved". The same is said of marriage or partnerships which, by dissolution, end the legal relationship between those persons formally joined by the marriage or partnership.

Learn new Accounting Terms

STRAIGHT-LINE METHOD see STRAIGHT-LINE DEPRECIATION METHOD.

UNITIZE is to separate or classify into units, e.g. auto manufacturers unitize along model designations.

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