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Definition of Parent company
A company that retains control over one or more other companies.
A summarization of the financial statements of a parent company and
a parent company or third-country national assigned
The process of restating foreign currency accounts of subsidiaries into the
Term describing a type of loan. If a loan is with recourse, the lender has a general claim against the
Large and creditworthy company.
Assets acquired to create money. May include plant, machinery and equipment, shares of another company etc.
Expected rate of return demanded by investors in a company, determined by the average risk of the company’s assets and operations.
Related: Unsystematic risk
See asset-specific risk
Arrangement whereby the shareholders of a project receive output free of
DTC is a user-owned securities depository which accepts deposits of
company engaged in making loans to individuals or businesses. Unlike a bank, it does not receive deposits from the public.
A corporation that owns enough voting stock in another firm to control management and
A firm licensed to sell insurance to the public.
Loan made by one unit of a corporation to another unit of the same corporation.
Transaction carried out between two units of the same corporation.
limited liability company
an organizational form that is a hybrid of the corporate and partnership organizational
an individual or firm engaged in a high or moderate degree of conversion that results in service output
A company that is controlled by another company through ownership
Organization usually combined with a commercial bank, which is engaged as a trustee for individuals or businesses in the administration of Trust funds, estates, custodial arrangements, stock transfer and registration, and other related services.
This is the person who benefits from the terms of a trust, a will, an RRSP, a RRIF, a LIF, an annuity or a life insurance policy. In relation to RRSP's, RRIF's, LIF's, Annuities and of course life insurance, if the beneficiary is a spouse, parent, offspring or grand-child, they are considered to be a preferred beneficiary. If the insured has named a preferred beneficiary, the death benefit is invariably protected from creditors. There have been some court challenges of this right of protection but so far they have been unsuccessful. See "Creditor Protection" below. A beneficiary under the age of 18 must be represented by an individual guardian over the age of 18 or a public official who represents minors generally. A policy owner may, in the designation of a beneficiary, appoint someone to act as trustee for a minor. Death benefits are not subject to income taxes. If you make your beneficiary your estate, the death benefit will be included in your assets for probate. Probate filing fees are currently $14 per thousand of estate value in British Columbia and $15 per thousand of estate value in Ontario.
Creditor Proof Protection
The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
The currency in which the parent firm prepares its own financial statements; that is, U.S.
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