BELOW THE LINE Definition

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BELOW THE LINE, in accounting, denotes credits or debits affecting balance sheet accounts rather than the income statement. Extraordinary items may also appear below the net profit line in the income statement, but accounting standards-setters have increasingly favored reflecting most such items in periodic net income.

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RAB is REGULATORY ASSET BASE.

PAYABLE is an amount awaiting payment to be made, e.g. interest payable or taxes payable.

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