Also known as: disc.
DISC has various meanings in the Accounting category. Discover the full forms, definitions, and usage contexts of DISC in Accounting.
A type of U.S. corporation, authorized in 1971, with income primarily from exports. Usually wholly owned U.S. subsidiaries, DISCs had special treatment in borrowing or taxation. A 1976 GATT case found against the U.S., which reached a compromise settlement with the EC in 1981. DISC was replaced in 1984 by foreign sales corporations.
AccountingLast updated: