Best practices are used to maintain quality as an alternative to mandatory legislated standards and can be based on self-assessment or benchmarking. Best practice is a feature of accredited management standards such as ISO 9000 and ISO 14001.
Definition of monetary for English Language Learners. : 1  of or relating to money. : 2  of or relating to the money in a country's economy.
Gift Tax. A special tax paid by the giver of a gift (of money or property) worth more than a certain amount ($13,000 in 2010). Some transfers of money are exempted from the gift tax, such a gift to a spouse or a gift used to pay medical or educational expenses.