FIXED CAPITAL Definition

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FIXED CAPITAL includes the value of the purchases and own-account construction of fixed assets by enterprises, households, private non-profit institutions, and general government for civil defense. Its components include construction and durable equipment.

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TAXABLE INCOME is that income that is reported to the government for the purposes of calculating income taxes. Taxable income normally is not aligned with the financial income reported within financial statements. See FINANCIAL INCOME.

PROOF OF POSTING (POP) is: a. to prove by acceptable methods the accuracy of any posts made within accounting ledgers; or b. details confirming the shipment of mail with a postal organization.

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