The Encyclopedia of American Business is designed to assist students and other individuals in understanding the complex world of American business. The United States’s economy, at more than $10 trillion in 2004, is the largest economy in the world. The many organizations, institutions, government agencies, laws, and business concepts that make up the U.S. economic system create a complex and confusing, yet exciting, business environment.

Book (or carrying) value is an accounting term that usually refers to a net amount, the remainder after a subtraction has occurred. Book values are commonly encountered in the accounting for assets and liabilities.

Personal selling—direct interaction between a seller and a buyer—is a critical component in marketing communications. Salespeople help to generate a company’s revenue by providing information to consumers and feedback to manufacturers.

American depository receipts (ADRs) are certificates issued by a U.S. bank or brokerage firm, representing foreign shares held by the institution. One ADR may represent one share, a portion of a foreign share, or a bundle of shares of a foreign corporation.

Target markets are groups of buyers toward whom a business or organization directs its marketing efforts. Target markets can include groups of consumers, businesses, government, or users of services or products from nonprofit organizations.

Transfer taxes are those taxes imposed when property is transferred from one party to another. The estate tax and the gift tax are wealth-transfer taxes that combine to create the unified transfer-tax system.