BONUS Definition

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BONUS is remuneration over and above regular salary.

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ACCOUNTING STANDARDS BOARD (ASB) makes, improves, amends and withdraws accounting standards. Many of ASBs specialize in the various fields or sectors of accounting.

MANDATORY SPENDING is spending that is automatically obligated due to previously-enacted laws. In the United States, this would include things such as Social Security, Medicare, and the interest on the national debt. See DISCRETIONARY SPENDING.

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