In the context of a corporation a board of directors is a group of people, selected by the shareholders, who make the major decisions for the company. The exact responsibilities of the board are governed by the company’s articles of...
business organizations
book account
A book account is a record of all the financial information of a person or business. It is a statement of the debit and credit of an individual which also shows the amount of debt a person owes at any given time. In terms of a business’s book...
book value
Book value (also known as net asset value) is a way of measuring a business’s value or worth (valuation) using its tangible assets by taking the value of a business’s material assets minus its liabilities. Since book value does not include...
bookkeeper
A Bookkeeper refers to a corporation’s or organization’s financial record keeper. This person will usually be in charge of keeping records of the company’s accounts, expenditures, earnings, profits, losses, receipts, etc. Bookkeepers and...
bookkeeping fraud
Overview
Bookkeeping fraud (also referred to as accounting fraud) refers to types of fraud committed by officers, accountants, and other employees that manipulate company finances and records to achieve some kind of personal gain. There are...
bulk sale
A bulk sale means the sale, transfer, or assignment of business assets outside of the ordinary course of business by a person or entity. Business assets include, among others, tangible personal property, real property, and intangible assets (...
bulk sales law
Bulk sales laws are the regulations applicable to a bulk sale, which may contain special rules and procedures that buyers and sellers must follow when a bulk sale transaction takes place.
Although bulk sales laws have...
bulk transfer
See: bulk sale
[Last updated in December of 2021 by the Wex Definitions Team]
bureaucracy
Bureaucracy is a term composed of bureau (meaning "writing desk" in old French) and -cracy (meaning "power" in Latin). A bureaucracy is a form of work organization. The historical meaning of the term refers to a body of non-elected government...
business
A business involves a natural person or entity performing an activity or trade with the intent of making a profit. The activity or trade may be commercial, industrial, professional, or otherwise. A business commonly involves providing goods...