Glossary of Terms – K
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kb (Kilobyte) This is a measure of information on a computer. For example, 1 KB equals 1024 bytes of information.
Key personnel insurance Special insurance available on the lives of the principal active shareholders in a company. Can be used to fund buy-sell agreements as well as to provide funds to continue the company in the event of one manager’s death. The name the policies are registered in, as well as who pays the premiums, can have important tax implications. Therefore, obtain tax advice in advance.
