Act

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Act

1. See: Activity.

2. In insurance, any deed, especially one that foregoes the possibility of coverage. For example, life insurance policies rarely extend coverage if the policyholder commits suicide. In this case, the suicide is called an act.

ACT

see ADVANCE CORPORATION TAX.
References in periodicals archive ?
Current professional standards contain a relatively clear delineation of illegal acts for which the auditor has detection responsibility.