Long term property of a tangible nature (such as a large machine, building, manufacturing plant) which is used in the operation of the business that isn't readily convertible into cash. Also known as a capital asset, may also refer to fixtures and other items where the purchase represents an investment in an asset. … [Read more...] about FIXED ASSET
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FISHING BILL
A term descriptive of a bill in equity which seeks a discovery upon general, loose, and vague allegations. Story, Eq. PI. i 325; In re Pacific Ry. Com'n (C. C.) 32 Fed. 263; Hurricane Tel. Co. v. Mohler, 51 W. Va. 1, 41 S. E. 421; Carroll v. Carroll, 11 Barb. (N. Y.) 298. … [Read more...] about FISHING BILL
FIXED CAPITAL
Money that is invested in a company and cannot be removed. … [Read more...] about FIXED CAPITAL
FISHING EXPEDITION
Slang term where one party makes requests that have a very small chance of providing relevant evidence in the hope of being greatly fortunate in finding an unknown piece of relevant evidence. To drop a lure in the hope of being luck to catch a fish, may also be an attempt to cause the party from whom evidence is requested to incur high costs of searching for evidence with no … [Read more...] about FISHING EXPEDITION
FIXED COST
A cost that does not change or vary. … [Read more...] about FIXED COST