SUBSIDIARY Definition

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SUBSIDIARY is a company whose voting stock is more that 50% owned by another company.

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ACCOUNTING EQUATION is a mathematical expression used to describe the relationship between the assets, liabilities and owners equity of the business model. The basic accounting equation states that assets equal liabilities and owners equity, but can be modified by operations applied to both sides of the equation, e.g., assets minus liabilities equal owners equity.

PROPRIERTORSHIP see SOLE PROPRIERTORSHIP.

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