CARTAGE/CARRIAGE OUTWARDS Definition

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CARTAGE/CARRIAGE OUTWARDS Occurs when a business pays for sold goods to be delivered to its customers premises.

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BOND is a commonly used form of long term debt.

PASSIVE ACTIVITY is defined in the US Tax Code as one or more trades, business or rental activity that the taxpayer does not materially participate in managing or running. All income and losses from passive activities are grouped together on an income tax return and, generally, loss deductions are limited or suspended until the passive activity that generated them is disposed of in its entirety.

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