basis

noun

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ba·sis | \ ˈbā-səs

plural bases\ ˈbā-ˌsēz

Definition of basis

1 : the bottom of something considered as its foundation

2 : the principal component of something Fruit juice constitutes the basis of jelly.

3a : something on which something else is established or based stories with little basis in reality no legal basis for a new trial still some basis for hope selected on the basis of test scores

b : an underlying condition or state of affairs hired on a trial basis He is on a first-name basis with his customers.

c : a fixed pattern or system meets with us on a regular basis [=regularly] The department sends reports on a daily basis. [=every day]

4 : the basic principle concepts that form the basis of the country's economic policies

5 mathematics : a set of linearly independent vectors (see vector entry 1 sense 1a) in a vector space such that any vector in the vector space can be expressed as a linear combination of them with appropriately chosen coefficients (see coefficient sense 1)

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Examples of basis in a Sentence

The company does not hire employees on the basis of their race, sex, age, or religion. the sole basis for the rumor is someone's overactive imagination

Recent Examples on the Web The Kings, for instance, have been in contact with their prospects during the pandemic on an almost daily basis, keeping close tabs on their long-term development. — Jack Harris, Los Angeles Times, "Kings and Ducks prospects excel at world junior championship," 6 Jan. 2021 Scores of college basketball games have been canceled or postponed this season because of COVID-19 issues, with games called off on a near-daily basis. — Michael Marot, Anchorage Daily News, "Men’s March Madness will be played entirely in Indiana," 5 Jan. 2021 Scores of college basketball games have been canceled or postponed this season because of COVID-19 issues, with games called off on a near-daily basis. — Michael Marot, BostonGlobe.com, "NCAA says men’s March Madness will be played entirely in Indiana," 4 Jan. 2021 Chief of Staff Callie Brownson, who works with the receivers on a daily basis, is set to replace him. — cleveland, "A second Browns coach -- not Kevin Stefanski -- tests positive for COVID-19; facility closed while contact tracing underway," 2 Jan. 2021 Shelters depend on the help of volunteers to care for animals on a daily basis. — Traci Howerton, NOLA.com, "Tips for helping your pets put their best paws forward in 2021," 31 Dec. 2020 Tracking Santa is not all Kunze and Dumont are responsible for on a daily basis: NORAD defends North America through aerospace warning, aerospace control and maritime warning. — Julia Musto, Fox News, "How does NORAD track Santa on Christmas Eve?," 25 Dec. 2020 An avalanche of stay-at-home orders, social distancing requirements, business closures, layoffs, eviction moratoriums, health care worker shortages and more crashed down upon us on a daily basis. — Portland Business Journal, oregonlive, "Invisible scars: 7 business owners, execs talk about pain of COVID-19, hopes for 2021," 24 Dec. 2020 Prosper head coach Brandon Schmidt reminds his players to wear their masks on a daily basis, and Webb has added some extra tips to his speeches. — Tess Demeyer, Dallas News, "Reindeer (TXHSFB) games: How local teams are approaching the challenges of playing over the holidays," 24 Dec. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'basis.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Last Updated

14 Jan 2021

Cite this Entry

“Basis.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/basis. Accessed 20 Jan. 2021.

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More Definitions for basis

basis

noun

English Language Learners Definition of basis

: something (such as an idea or set of ideas) from which another thing develops or can develop

: a reason for doing something

: a fixed pattern or system for doing something

See the full definition for basis in the English Language Learners Dictionary

basis

noun

ba·sis | \ ˈbā-səs

plural bases\ -ˌsēz \

Kids Definition of basis

: something on which another thing is based or established : foundation The story has its basis in fact.

basis

noun

ba·sis | \ ˈbā-səs

plural bases\ -ˌsēz

Medical Definition of basis

1 : any of various anatomical parts that function as a foundation

2 : base sense 2b

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basis

noun

ba·sis | \ ˈbā-səs

plural bases\ -ˌsēz

Legal Definition of basis

1 : something (as a principle or reason) on which something else is established the court could not imagine any conceivable basis for the statute — see also rational basis

2 : a basic principle or method especially : the principle or method by which taxable income is calculated

Note: The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer.

— accrual basis

: a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made

— called also accrual method

— cash basis

: a method of accounting in which income and expenses are recorded in the period when payment is received or made

— called also cash method

3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for income tax purposes

— adjusted basis

: the basis of an asset increased or decreased to reflect changes in value (as through improvement or depreciation)

— carryover basis \ ˈkar-ē-ˌō-vər- \

: the basis of a donated or transferred asset that is equal to the basis of the asset when it was in the hands of the donor or transferor

Note: Carryover basis is generally applied to gifts and to transfers in trust.

— cost basis

: the basis of an asset equal to the amount paid for the asset plus other acquisition costs

— stepped-up basis \ ˈstept-ˈəp- \

: the basis of inherited property equal to its market value at the decedent's date of death or to an alternate valuation

— substituted basis

: the basis of property received in exchange for property of a like kind that is equal to the basis of the property given with adjustments for additional consideration received or gains and losses realized

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