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term:

Operating

operating adj

1 : engaged in active business
2 : arising out of or relating to the current daily operations of a concern (as in transportation or manufacturing) as distinct from its financial transactions and permanent improvements [ expenses] [ personnel]

Source: Merriam-Webster’s Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.
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