Token

Token may refer to:

Currency

Computing

Token Racing

Token Racing was a short-lived Formula One team and constructor from the United Kingdom, participating in four Grands Prix of the 1974 Formula One season.

Token's history began in late 1973 when Rondel Racing, the successful Formula Two team founded by Ron Dennis and Neil Trundle, decided to enter F1. Dennis asked Ray Jessop to design the car, while backing was to come from the French oil company Motul, which had sponsored the team for the previous two years. But when the 1973 oil crisis hit, Motul withdrew, and Dennis was forced to close down the team. The F1 project was subsequently sold to shipbroker Tony Vlassopulo and Lloyd's underwriter Ken Grob, from whose first names the "Token" name was derived, while the car was called the RJ02 in honour of Jessop.

The team made its F1 debut in April 1974 at the non-Championship International Trophy race at Silverstone, with Welshman Tom Pryce at the wheel. Its first Championship race came the following month, at the Belgian Grand Prix, where Pryce qualified 20th but retired at three-quarter distance following a collision with Jody Scheckter's Tyrrell. The team entered the next race at Monaco but was forbidden from taking part on the basis of Pryce's supposed inexperience, prompting the Welshman to move to the Shadow team.

Token (railway signalling)

In railway signalling, a token is a physical object which a locomotive driver is required to have or see before entering onto a particular section of single track. The token is clearly endorsed with the name of the section it belongs to. A token system is used for single lines because of the very much greater risk of serious collision in the event of irregular working by signalmen or traincrews, than on double lines.

Principle

The operation of a bidirectional single track line has obvious problems, the most serious of which is the possibility of two trains traversing the line travelling towards each other, each driver unaware that the other is using the line. The simplest method of controlling such a line is to have only one engine operational, on the basis that a single train cannot collide with itself, and in the absence of another engine, there is nothing else for it to collide with. Such a system is known as "one engine in steam". Such schemes were used, and indeed still are used on some branches of rail networks, and on heritage railways. The main problem with such a scheme is that it is best suited to a completely isolated branch of single track line. Where the section has to be integrated into a larger railway system, it becomes exceptionally limiting in the level of operations that it allows, and the opportunity for a mistake to be made, and an ensuing accident to occur, is high.

Asset

In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value and that is held to have positive economic value is considered an asset. Simply stated, assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).

The balance sheet of a firm records the monetary value of the assets owned by the firm. It is money and other valuables belonging to an individual or business. Two major asset classes are tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include inventory, while fixed assets include such items as buildings and equipment.

Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the market place. Examples of intangible assets are goodwill, copyrights, trademarks, patents and computer programs, and financial assets, including such items as accounts receivable, bonds and stocks.