ORGANIZATIONAL STRUCTURE Definition

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ORGANIZATIONAL STRUCTURE is the delineation of responsibilities, authorities and relations organized in such a way as to enable an organization to perform its functions.

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REDEMPTION is the repayment of the principal amount of a debt or security at or before maturity (as when a corporation repurchases its own stock).

DOUBLE-ENTRY ACCOUNTING is a system of recording transactions in a way that maintains the equality of the accounting equation. The accounting technique records each transaction as both a credit and a debit. Double-entry bookkeeping (DEB) or accounting was developed during the fifteenth century and was first recorded in 1494 as a system by the Italian mathematician Luca Pacioli.

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