STATUTORY CONSOLIDATION Definition

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STATUTORY CONSOLIDATION is a merger where a new corporate entity is created from the two merging entities; the two merging entities then cease to exist. See also STATUTORY MERGER.

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BALANCE is: a. equality between the totals of the credit and debit sides of an account; or, b. the difference between the totals of the credit and debit sides of an account.

ANCILLARY relates to something extra or of lesser importance. For example, ancillary revenue would be revenue derived from the provisioning of products or services that are not considered to be primary to the generation of revenue.

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