FORMULA Definition

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FORMULA is a standard procedure for solving a class of mathematical problems.

Learn new Accounting Terms

DIVIDEND RECEIVED DEDUCTION is the reduction of dividend income from the taxable income of the investing corporation, as provided in section 301 of the Internal Revenue Code. Currently, 70% of dividends received from nonaffiliated corporations may be excluded from taxable income.

CREDIT MEMO is a document used to issue a vendor credit.

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