DEPOSIT Definition

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DEPOSIT can mean a variety of things: a. a payment given as a guarantee that an obligation will be met; b. the act of putting money into a bank account; c. a partial payment made at the time of purchase with the balance to be paid later; or, d. money given as security for an article acquired for temporary use.

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BUILDING SOCIETY, similar to a Savings and Loan in the U.S., is a UK savings institution that specializes in loans for house purchase. Their members own building societies.

SEPARABLE COSTS are all costs (manufacturing, marketing, distribution, etc.) incurred beyond the split-off point that are assignable to one or more individual products.

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