- The act of assuming, or taking to or upon one's self;
the act of taking up or adopting. - The act of taking for granted, or supposing a thing
without proof; supposition; unwarrantable claim. - The thing supposed; a postulate, or proposition
assumed; a supposition. - The minor or second proposition in a categorical
syllogism. - The taking of a person up into heaven. - A festival in honor of the ascent of the Virgin Mary
into heaven.
Meaning of 'assumption' (Princeton's WordNet)
1 . assumption
[ n]
Meaning (1): - a hypothesis that is taken for granted
Example in sentence:
any society is built upon certain assumptions
Meaning (2): - the act of taking possession of or power over something
Example in sentence:
he acquired all the company's assets for ten million dollars and the assumption of the company's debts;
his assumption of office coincided with the trouble in Cuba;
the Nazi assumption of power in 1934
Meaning (3): - audacious (even arrogant) behavior that you have no right to
Example in sentence:
he despised them for their presumptuousness
Meaning (4): - a statement that is assumed to be true and from which a conclusion can be drawn
Example in sentence:
on the assumption that he has been injured we can infer that he will not play
Meaning (5): - the act of assuming or taking for granted
Example in sentence:
your assumption that I would agree was unwarranted
Current assumption whole life insurance Current assumption whole life insurance is nonparticipating whole life policy in which the cash values are based on the insurer’s current mortality, investment, and expense experience.
An accumulation account is credited with a current interest rate that
Assumption-of-risk Assumption-of-risk is a defense against a negligence claim that bars recovery for damages if a person understands and recognizes the danger inherent in a particular activity or
Assumption Assumption refers to a supposition on the current situation or a presupposition on the future course of events, either or both assumed to be true in the absence of ...
Cost flow assumptions Cost flow assumptions is about which units were sold that most companies make assumptions to keep track of the cost of each particular item sold.
Time period assumption Time period assumption is a convenient assumption that accountants can divide the economic life of a business into artificial time periods. The time period assumption is also called the periodicity assumption.
Economic entity assumption Economic entity assumption is an assumption that requires that the activities of the entity be kept separate and distinct from the activities of its owner and all other economic entities.
Monetary unit assumption The monetary unit assumption requires that companies include in the accounting records only transaction data that can be expressed in terms of money.
Assumptions Sheet Assumption sheet is an explanation of the most critical assumptions based on general information, and no specific sources will be cited to substantiate assumption.