AGENCIES Definition

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AGENCIES is securities issued by various agencies of the U.S. Government, such as the Federal National Mortgage Association.

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REVENUE RESERVE is a fund that is not a CAPITAL RESERVE, i.e. the funds are distributable.

PRETAX INCOME is a profitability measure that looks at a company's profits before the company has to pay income tax. This measure deducts all expenses from revenue including interest expenses and operating expenses, but it leaves out the payment of tax.

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