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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EFFECTIVE INTERNAL CONTROL is reasonable assurance that operational objectives are achieved, that published financial statements are reliably prepared, and that the entity complies with applicable laws and regulations.

SR see STOCK RESERVE.

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