ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PROGRESSIVE TAX Definition
PROGRESSIVE TAX is an income tax system to where the more income that is made the higher the tax percentage that must be paid.
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OUT-OF-P0CKET are expenses requiring an outlay of cash in a given time period, e.g., payroll, advertising and other operating expenses, but not depreciation.
NET SALES is gross sales less discounts, allowances, sales returns, freight out, etc.