BED and BREAKFAST Definition

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BED and BREAKFAST was an overnight UK tax related maneuver intended to establish a tax loss benefit. Now no longer allowed.

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VET, VETTED, VETTING is to make a careful and critical examination of someone or something, e.g. a person prior to employment.

OPERATING INCOME is revenue less cost of goods sold and related operating expenses that are applied to the day-to-day operating activities of the company. It excludes financial related items (i.e., interest income, dividend income, and interest expense), extraordinary items, and taxes.

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