GLOBALIZATION Definition

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.

Learn new Accounting Terms

MEDIAN is the value of the midpoint variable when the data are arranged in ascending or descending order.

DONATED ASSETS are assets received in a voluntary non-reciprocal transfer from another entity such as gifts of capital assets; usually voluntary contributions of resources to a governmental entity by a non-governmental entity.

Suggest a Term