Examlex
A subsidiary recognizes no gain or loss on a distribution to a parent corporation owning the majority of the subsidiary's stock in a complete liquidation.
Output
Output refers to the total amount of goods or services produced by a company, industry, or economy within a certain period, often used as a measure of productivity or economic activity.
Firm
A business organization, such as a corporation, partnership, or sole proprietorship, that sells goods or services in exchange for revenue.
Reduces
Makes smaller in amount, degree, or size; diminishes or lessens.
Perfectly Competitive
A market structure where many firms sell identical products, no single firm can influence the market price, and there are no barriers to entry or exit.
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