Business, Legal & Accounting Glossary

Definition: Assumption

What is the dictionary definition of Assumption?

Dictionary Definition

n. the act of taking over a debt as part of payment for property which secures that debt.

Cite Term

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.

Page URL
Modern Language Association (MLA):
Assumption. Payroll & Accounting Heaven Ltd. November 25, 2020
Chicago Manual of Style (CMS):
Assumption. Payroll & Accounting Heaven Ltd. (accessed: November 25, 2020).
American Psychological Association (APA):
Assumption. Retrieved November 25, 2020, from website:

Definition Sources

Definitions for Assumption are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.