What Is Commission in Simple Words?

noun. the act of committing or entrusting a person, group, etc., with supervisory power or authority. an authoritative order, charge, or direction. authority granted for a particular action or function. a document granting such authority.

What is commission in simple terms?

1 : an order granting the power to perform various acts or duties : the right or duty to be performed. 2 : a certificate that gives military or naval rank and authority : the rank and authority given He received his commission in the army as a captain.

What is a commission in business terms?

A commission is a service charge assessed by a broker or investment advisor for providing investment advice or handling purchases and sales of securities for a client. ... A fee-based advisor charges a flat rate for managing a client's money.