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All large companies have "pilot" or experimental companies which may or may not develop into something else. If this small subsidary embarasses, grows-up or other reason, the owning company may openly or secretly, willingly or not, to then legally be seen to separate from the parent company. The other spun-off company is created when ex-employees of the parent company legally create a seemingly or real independent company.
What else can I help you with?
Is there a Life of Virginia Insurance Company?
There was a Life of Virginia insurance company, however, it was purchased by first colonly life insurance, which was then bought by GE. GE spun off it's insurance unit to an independent company in 2006 called the Genworth Life Insurance Company. So, in a nutshell, Life of Virginia is now Genworth Life
Do you report discontinued operations for a non public entity?
The only difference between the private and the nonprofit sector, where you find the government and private nonprofit entities, is that you do not have an equity section. A government does not have shareholders in the private sense. It is owned by its citizens as a commonwealth.A private nonprofit does not have shareholders either because there is nothing to share. They receive donations, not revenues. However, they can run a small, revenue earning business. That would have to be accounted for separately from the actual operation of the nonprofit because running a store is not a charitable activity even when the merchandise is sold at cost.An nonprofit organization can have different operations. It can allocate a budget to each and then incur expenses. When it eliminates any operation, it then has a discontinued operation. After all, you either list it as part of operations, or as discontinued this year and not at all in the next. Either way, an entity has to account for changes in operations. I already mentioned the store above. That is an operation. For a nonpublic entity, there is a limit to how much revenue it can generate. Above that amount, it may have to be spun off because it erodes the tax exempt status of the nonpublic, i.e. private nonprofit.
What is spun?
Spun is the past and past participle of "spin".
When was Expedia spun off from Microsoft?
The company was founded within the offices of the Microsoft Corporation and spun off into a separate unit in 1999.
What is the meaning of spin the top?
"Spin the top" is a phrase that can refer to a traditional children's toy where a top is spun on its pointed end, or it can be used metaphorically to describe a situation or activity that is engaging or enjoyable but ultimately temporary or fleeting in nature.
Is Lucent and Avaya the same company?
No, Lucent and Avaya are not the same company, but they are related. Lucent Technologies was a telecommunications equipment company that spun off from AT&T in 1996. In 2000, Lucent acquired the data networking company, and in 2001, it spun off its enterprise business, which became Avaya. Avaya is now a separate company that focuses on business communications and collaboration solutions.
What is the perfect tense of spin?
I spunned my top aroundand around until it falls.
what is the meaning of Ran?
imp. of Run., Open robbery., Yarns coiled on a spun-yarn winch., of Run
What is an antonym of spun?
spun
How do you make fairy floss?
Fairy floss is another name for cotton candy, which is a spun sugar.
What is the full meaning of ran?
imp. of Run., Open robbery., Yarns coiled on a spun-yarn winch., of Run
Spun in a sentence?
Charlotte the spider's web was carefully spun. The dancer spun like a top!
What is the past participle of spun?
It's also 'spun'.
What is the advantages of spun piles?
advantages of spun pile
