WORKING CAPITAL Definition

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WORKING CAPITAL (WC) is current assets minus current liabilities; also called net current assets or current capital. It measures the margin of protection for current creditors. It reflects the ability to finance current operations.

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TAX SHELTER are legal methods taxpayers can use to reduce tax liabilities. An example is the use of depreciation of assets.

FUND THEORY views the organization as a series of funds or sub-funds represented by various services or departments.

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