assume

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Related to assumed: attrite

assume the mantle

To take, inherit, or receive the responsibilities and duties associated with a certain position or job, especially one regarded as important or powerful. The king led the country for over 60 years; now, his daughter will assume the mantle of the throne.
See also: assume

assume the position

1. To take over the role and responsibilities of a particular job. My boss wants me to assume the position of treasurer this year, but I don't know if I want the extra workload.
2. A command issued by US law enforcement officers, meaning to stand with one's back to the officer and hold one's arms in a position to be either handcuffed or frisked. Primarily heard in US, South Africa. I knew I was in trouble when they asked me out of the car, but I knew I was going to jail when they told me to assume the position.
See also: assume, position

assume liability for

To take responsibility for something, typically a cost or expense. When you signed the contract, you assumed liability for fees like this.
See also: assume

assume liability for something

to accept the responsibility for paying a cost. Mr. Smith assumed liability for his son's student loans. The store assumed liability for the injured customer's hospital bills.
See also: assume

*low profile

Fig. a persona or character that does not draw attention. (*Typically: assume ~; have ~; keep ~; give oneself ~.) I try to be quiet and keep a low profile. It's hard because I just love attention.
See also: low, profile
References in periodicals archive ?
The shapes in the Figure contrast with those assumed by previous studies.
One of the liabilities ITW assumed was a pending patent liability.
The debt could not have been considered extinguished if the corporation had not assumed it.
The ratings reflect the significant debt load that MNI has assumed in order to finance this strategic acquisition, as pro forma debt levels constrain the company's financial flexibility and reduce its capacity to withstand a cyclical advertising downturn.
Even if the value of the P assets transferred to C exceeded the P liabilities assumed by C, P "equity" was transferred to C and C owed additional amounts to P, such excess value, equity or amounts would not increase the tax bases of C's shareholders.
The stock is assumed converted at the beginning of the period if it is outstanding at that time.
Buchanan has assumed portfolio management responsibilities for the following funds:
Allen recognizes no gain or loss on the transfer; however, Allen's basis in the stock received will be $15,000 rather than $25,000 because the basis is reduced by the liabilities assumed.
If, as part of the transaction, the corporation assumes a liability of the transferor or takes the transferred property subject to a liability, the liability assumed or acquired will be treated as money received by the transferor, thereby reducing basis (Sec.
The objective of diluted EPS is consistent with that of basic EPS: to measure the enterprise's performance over the period while giving effect to all dilutive securities assumed converted to common stock.
These actions will provide increased diversification in the Company's assumed reinsurance business and will reduce the Company's exposure to catastrophe losses.
Targeting: Database manipulation and target identification costs of approximately $1 per entry are assumed.
The EITF identified three types of costs that, if certain conditions are met, should be recognized as liabilities assumed in a purchase business combination and included in the allocation of the acquisition cost in connection with a purchase business combination under Opinion no.
The rating also takes into account event risk related to Viacom's asbestos liability, which Fitch expects to be assumed by CBS.
The liability assumed by the partnership exceeding the portion allocated to the partner immediately after the assumption is treated as a disguised sale.