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Home Resources Glossary Assumed Name

Glossary

Assumed Name

A fictitious name used by an entity that does not wish to do business publicly using its legal entity or corporate name.

Example

Acme Inc. (the corporation) may conduct business as Acme Hamburgers (assumed name).

See Also

Doing business as (DBA).

Tips

Assumed names are filed at the state, city, or local level. Jurisdictions require that entities identify the responsible party for an assumed name so the public knows who can be held responsible for acts of the business using the assumed name.

Related Terms

Absentee Owner

A business owner who is not personally involved in the management or operations of a business. Tips The application of this term varies; some refer to business owners as absentee...

Accounting Method

The method that is used to record a business's revenue and expenses for tax purposes. See Also Cash basis , accrual basis. Tips Most businesses use a hybrid of the...

Accounting Period

The period of time in which financial activity is recorded and financials are prepared. Tips Normally refers to a 12-month period. The two primary accounting periods are fiscal and calendar...

Accrual Method of Accounting/Accrual Basis

One of the two primary accounting methods, recognizes income and expenses based on when they are "accrued" or when they actually occur. Example If a job was awarded today but...

Add-Backs

An adjustment made to the income or expenses in a financial statement when calculating the true earnings capacity of a business (i.e., SDE or EBITDA). See Also Normalize, SDE, EBITDA....

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