MULTINATIONAL Definition

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MULTINATIONAL is involving or operating in several nations or nationalities (Example: Multinational corporations).

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INCOMPATIBLE DUTIES arise in internal control systems because positive control relies on separation of duties to reduce the chance of errors or fraud. Duties are incompatible if they should be separated for control. For example, one person should not be in a position to both embezzle funds and to hide that embezzlement by changing the recorded accountability.

BASIS, INVESTMENT, is the cost or book value of an investment. The gain or loss on an investment is the sale price less the basis. Basis is often called "cost basis."

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