What is ACCUMULATED PROFITS? Definition of ACCUMULATED PROFITS in Black's Law Dictionary
Earned surplus or undivided profits. Flint v. Commissioner of Cor- porations and Taxation, 43 N.E.2d 789, 791, 792, 312 Mass. 204.
Include profits earned and invested. Commissioner of Corporations and Taxation v. Filoon, 310 Mass. 374, 38 N.E.2d 693, 698, 700.
And they take into account losses, as well as gains. Com- missioner of Corporations and Taxation v. Church, Mass., 61 N.E.2d 143, 145.
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That's the definition of ACCUMULATED PROFITS in Black's Law Dictionary - Courtesy of Cekhukum.com.
