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English to English translations [PRO]
Bus/Financial - Accounting | | English term or phrase: patrimony | | can a native English speaker tell me if the word patrimony says to him something? (in accounting field) |
| | | founding assets, initial capital | Explanation:
The assets of the company at the time of its foundation. Patrimony is the term often used in countries of eastern Europe.
From the Britannica:
Business associations have three distinct characteristics: (1) they have more than one member (at least when they are formed); (2) they have assets that are legally distinct from the private assets of the members; and (3) they have a formal system of management, which may or may not include members of the association... The second feature, the possession of distinct assets (or a distinct **patrimony**), is required for two purposes: (1) to delimit the assets to which creditors of the association can resort to satisfy their claims...
The initial *patrimony* of the Foundation can be increased... Initial capital or *patrimony*, expressed in legal currency, no less than the equivalent of ten thousand US dollar
[http://www.infagar.com/prac_foundation.shtml]
Art.24. The *patrimony* represents the initial contribution made to the Association on behalf of founding members. [http://www.arpim.ro/stateng.htm]
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| Selected response from:
  Nick Lingris
Local time: 22:42
| Grading comment finally ..i got it.thanks.eisai o kalyteros.
4 KudoZ points were awarded for this answer |
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7 mins confidence:   peer agreement (net): +1 inheritance
Explanation:
What a person inherits from his parents; could be cash, house, land, a company, etc.
But not (necessarily) in an accounting sense, although I suppose it could come up in accounting.
Wha
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15 mins confidence: Endowment (fund): the capital that provides income for an institution
Explanation:
Noun 1. patrimony - a church endowment
endowment fund, endowment - the capital that provides income for an institution
2. patrimony - an inheritance coming by right of birth (especially by primogeniture)
birthright
inheritance, heritage - that which is inherited; a title or property or estate that passes by law to the heir on the death of the owner
www.thefreedictionary.com/patrimony
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44 mins confidence: Webster says
Explanation:
"1 a : an estate inherited from one's father or other ancestor (financially that decision cost him a great share of his patrimony R.J.B.Sellar) b : anything derived from one's father or ancestors : HERITAGE c : an inheritance from the past (man may soon use up his patrimony of oil, and after that his inheritance of coal Leonard Engel) (a most important part of the intellectual patrimony of Italy R.A.Hall b. 1911)
2 a : an estate or property held by ancient right b : an ancient right c : an ancient estate or endowment (as of a church)"
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Note added at 45 mins (2005-07-01 20:58:36 GMT)
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in so many words, everything that one inherits from his/her family
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The translation workplace 
