2.Accounting: Amount left over after direct (variable) costs are deducted from the sales revenue. Also called gross income, this sum pays for indirect (fixed) costs and contributes to net income.
3.Insurance: Proportional sharing of loss by the insurers when more than one policy is taken by the insured for the same peril. Under a contract of indemnity, the insured cannot profit from his or her misfortune irrespective of the number of policies.
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