ECONOMIC INCOME Definition

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ECONOMIC INCOME is the maximum amount that can be distributed to owners during the accounting period and leave the business as well off at the end of the accounting period as it was at the beginning of the period; i.e. cash flow based.

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OUTPUT VAT is VAT on a companys sales. See also VALUE ADDED TAX (VAT).

SIPS is an acronym for Secure Internet Payment Service (e.g., Cybercash).

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