MAJORITY INTEREST Definition

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MAJORITY INTEREST is an ownership interest greater than fifty percent (50%) of the voting interest in a business enterprise.

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LETTER OF AWARENESS is a formal letter written to a lender, normally by a parent company, acknowledging its relationship with another group company and its awareness of a loan being made to that company. It is the weakest form of comfort letter. Such letters do not constitute a guarantee, but may nevertheless involve a significant moral commitment on the part of the writer.

COST ELEMENT, in cost accounting, is the lowest level component of a resource activity, or cost object.

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