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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 responsible 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 stock is assumed converted at the beginning of the period if it is outstanding at that time.
Lee, 36, is vice president and chief financial officer of Hanson Industries, a position he assumed earlier this year.
Duda has assumed portfolio management responsibilities for the following funds:
However, a determination that a contingent liability that the buyer assumed is the seller's responsibility requires the seller to consider it in determining its amount realized as of the acquisition date.
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.
Any remaining funds are assumed to be used first to reduce short- or long-term obligations with any balance invested in government securities.
The EITF also reached a consensus that a cost resulting from an exit plan should be recognized as a liability assumed as of the acquisition's consummation date only if the cost is not associated with or is not incurred to generate revenues of the combined entity after the consummation date and it meets either criterion (1) or (2) below.
358 applies to all liabilities to which the transferred property is subject, regardless of whether X retained personal liability after the exchange or S assumed any liability in the exchange.
His portion of the estimated tax payment is assumed to be $3,334/($10,302 + $3,334) X $8,000 = $1,956.
It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category.
Targeting: Database manipulation and target identification costs of approximately $1 per entry are assumed.
federal tax rate used in this article is assumed to be 34%.
Nick Bennett, formerly Senior Sales Engineer, has assumed the new responsibility of District Sales Manager for the San Diego Sales Office.
The liability assumed by the partnership exceeding the portion allocated to the partner immediately after the assumption is treated as a disguised sale.
91-7, Accounting for Pension Benefits Paid by Employers after Insurance Companies Fail to Provide Annuity Benefits, arose from companies that assumed, often under pressure from the U.