Business, Legal & Accounting Glossary
Abstraction is doing away with unimportant facts to arrive at an economic principle.
Taking from someone with an intent to injure or defraud.
Wrongful abstraction is an unauthorized and illegal withdrawal of funds or an appropriation of someone else’s funds for the taker’s own benefit. It may be a crime under the laws of a state. It is different from embezzlement, which is a crime committed only if the taker had a lawful right to possession of the money when it was first taken.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Abstraction are sourced/syndicated and enhanced from:
This glossary post was last updated: 8th October, 2021 | 0 Views.