assessment

assessment definition - business

assessment

  1. The amount of money owed. For example, a taxpayer receives an assessment from the Internal Revenue Service for $2,000 in additional taxes.
  2. Judgment of a situation. For example, a firm decides to forgo a merger because of the company president's negative assessment of the other firm's product mix.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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