SECURED LIABILITY is a liability that has a degree of protection towards satisfaction if unpaid because the debtor has pledged personal/company assets towards satisfaction of that liability; e.g., a property mortgage is a secured liability because the mortgage holder has a guarantee through a lien on the property.
BAN see BOND ANTICIPATION NOTE.
DIVISION is a self sufficient unit within a company. A division contains all the functions necessary to operate indecently from the parent company.
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