INCOME AFTER TAXES Definition

INCOME AFTER TAXES is the net profit earned by the company after deducting all expenses like interest, depreciation and tax. PAT can be fully retained by a company to be used in the business. Dividends, if declared, are paid to the share holders from this residue.

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DBMS is Data Base Management System.

MERCHANDISE is commodities offered for sale or to engage in the trade of commodities that are for sale.

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