ACCOUNTING INCOME Definition

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ACCOUNTING INCOME is the income derived through historical accrual based accounting. Income = the change in net assets occurring during the period excluding transactions with owners; i.e. transaction based.

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LIQUID ASSET is cash and any asset that can quickly be converted into cash (e.g., cash, checks and easily-convertible securities).

STOCK DIVIDEND is a dividend paid in stock rather than in cash. The additional shares can be in the form of a stock split, additional shares of the issuing company, or of a subsidiary.

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