GLOBALIZATION is the name for the process of increasing the connectivity and interdependence of the worlds markets and businesses. In its literal sense, globalization is a social change, an increased connectivity among societies and their elements due to transculturation; the explosive evolutions of transport and communication technologies to facilitate international cultural and economic exchange are examples of globalization.
FULLY DEPRECIATED is when an asset has already been charged with the maximum amount of depreciation allowed by the taxing authority for accounting purposes.
BAY, in business / accounting, means Buy Another Yearly.
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