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basis Definition

ba·sis (bā′sis)

noun pl. ba′·ses′-sēz′

  1. the base, foundation, or chief supporting factor of anything
  2. the principal constituent of anything
  3. the fundamental principle or theory, as of a system of knowledge
    1. a procedure or timed plan paid on a weekly basis
    2. a specified attitude a friendly basis

Etymology: L < Gr, a base, pedestal < bainein, to go < IE base *gwem-, come

basis Synonyms

basis

n.

  1. An intellectual foundation

    support, foundation, justification, grounds, reason, explanation, raison d'être (French), background, source, authority, principle, groundwork, underpinning, base, axiom, assumption, point d'appui (French), premise, postulate, antecedent, backing, proof, evidence, data, security, warrant, crux, nexus, nucleus, heart.

  2. A physical foundation

    base, foundation, footing, cornerstone; see foundation 2. See syn. study at base.

basis Finance Definition
In the futures market, the difference between the cash and futures prices. For instance, if cash prices for cotton typically are 5 cents below the July futures price, the November basis is said to be “5 cents under.” Separately, basis also is used to calculate the amount of capital gains tax that is due on the sale of an investment or asset. The basis is calculated by taking the purchase price and subtracting any commissions or expenses.
basis Law Definition

n

The amount or value assigned to a taxpayer’s cost of acquiring, or investment in, an asset. Primarily used when determining the taxpayer’s gain or loss when the property is sold, bartered, or exchanged or the asset’s depreciation.
adjusted basis
The value of a taxpayer’s basis in an asset, after making additions or subtractions to his or her original basis, to reflect certain events, such as capital improvements and depreciation, that affect the value of the property subsequent to the taxpayer’s acquisition of or investment in the asset.
carryover basis
The basis of an asset transferred from one owner to another by gift or in trust at the time of the transfer.
recovery of basis
See recovery.
stepped-down basis
The taxpayer’s basis in an asset after the basis has been decreased to a certain value (usually its fair market value) upon a certain date or event. For example, the basis of inherited property is its fair market value as of the date of the decedent’s death or an alternate valuation date and the decedent’s stepped-down (or stepped-up) basis in the asset is the new owner’s original basis.
stepped-up basis
The taxpayer’s basis in an asset after the basis has been increased to a certain value (usually its fair market value) upon a certain date or event.
substituted basis
The basis of one asset that substitutes for that of another asset when the first asset has been exchanged or otherwise transferred in return for the second asset. The taxpayer does not incur any gain or loss, but substitutes the basis of the asset she transferred to the property she acquired.
basis Usage Examples

Preposition: of

  • merit: Make sure you select a director on the basis of merit, and not because of personal relationships or share ownership in the company.
  • evidence: In those cases, the issue must be determined by the " person appointed " on the basis of the evidence presented.

Converse of object

  • serve: Tickets will be issued on a first come first served basis.
  • first-serve: Your name will then be added to the transfer list which works on a ( strictly ) first-come, first-served basis.
  • form: Scripture will often form the basis for the day.
  • provide: Observation of the system alone can provide a basis for insight.
  • lay: The focus of the coming months is laying the policy basis for the legislation.

Preposition: for

  • diagnosis: The materials in this web site cannot and should not be used as a basis for diagnosis or choice of treatment.

Adjective modifier

  • regular: Servers are expected to attend Church on a regular basis, whether on the serving schedule or not.
  • daily: Running the team out in the field on a daily basis.
  • weekly: The massive discharges in August are only an extreme example of what happens on a weekly basis.
  • monthly: On a monthly basis they will complete a quality inspection.
  • part-time: Students can attend on a full- or part-time basis, usually taking from three to five years to complete the course.
  • day-to-day: You will also be dealing with Housing Association clients on a day-to-day basis.

Noun used with modifier

  • rota: The Center staff are qualified instructors, but there are no domestic staff, and students do the tasks on a rota basis.
  • ad-hoc: Use our services on an ad-hoc basis or for an ongoing campaign.
  • accrual: This provision is linked to the move to produce the accounts of the NLF on an accruals basis.
  • pro-rata: Part-time workers are also entitled to four weeksâ paid holiday on a pro-rata basis.
  • rata: For the period you work part-time, your pay and pensions contributions will be adjusted on a pro rata basis.
  • freelance: Working on a freelance basis for Desktop Display, I was responsible for building the site from a supplied set of designs and content.
basis Quotes

Mieux est de ris que de larmes e¤  crire Pour ce que rire est le propre de l'homme. It is better to write of laughter than of tears For laughter is the basis of humankind.

—Rabelais, Fran c° ois

All of us failed to match our dreams of perfection. So I rate us on the basis of our splendid failure to do the impossible.

—Faulkner,William Harrison

It is a fraud of the Christian system to call the sciences human invention; it is only theapplication of themthat is human. Every science has for its basis a system of principles as fixed and unalterable asthose by whichthe universe is regulated and governed. Man cannot make principles, he can only discover them.

—Paine,Thomas

The whole basis of the views of architecture prevailing today must be displaced by therecognition that the only possible point of departure for our artistic creation is modern life.

—Wagner, Otto

Browse dictionary entries near basis

  1. ‹ basipetal
  2. ‹ basion
  3. ‹ basinet
  4. ‹ basin
  5. ‹ basilisk
  6. ‹ Basilicata
  7. ‹ basilica
  8. ‹ basilic
  9. ‹ Basildon
  10. ‹ basilar
  1. basis point ›
  2. bask ›
  3. Baskerville ›
  4. basket ›
  5. basket case ›
  6. basket hilt ›
  7. Basket Maker ›
  8. basket-of-gold ›
  9. basket star ›
  10. basket weave ›