SPIN-OFF Definition

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SPIN-OFF is a type of corporate reorganization in which the original corporation transfers some of its assets to a newly formed corporation. In exchange for the spun off assets, the original corporation receives all of the new corporations capital stock, which it then distributes to its shareholders as a property dividend.

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INVOICE, CONSULAR is an invoice stamped or endorsed by the consulate of the country requiring such.

PRE-OPERATING COSTS are costs that are deferred until the related assets are ready for revenue service at which time the costs are charged to operations.

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