Clone, Close, Closed Corporation, Closed Loop

Clone, Close, Closed Corporation, Closed Loop :

Clone : Any tangential device or a computer that is used to imitate the functions of an existing brand. The output produced is normally cheaper but the quality standards are maintained.

Close : Updating the records referring to the transaction in order to summarise the financial activity for a given accounting period : to close the books : to accomplish successfully a sale or sales agreement

Closed Corporation : A family owned business or corporation meaning thereby that the stock is owned by either one person or a few people who either belong to the same management or to the same family

Closed Loop : An error made by the programmer resulting in a condition whereby, the output of the programme modifies the input of the programme in such a manner that a final value is never achieved. For example, take a spreadsheet formula in which cell S represents the value of R+S, which cannot be achieved, as the value of S keeps changing with the execution of the command.


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