INCOME STATEMENT Definition

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INCOME STATEMENT see PROFIT AND LOSS STATEMENT.

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DISCRETIONARY INCOME means the amount of a companys income available for spending after the essentials have been met. See DISPOSABLE INCOME.

MONEY MARKET CERTIFICATE is a security issued by com­mercial banks and savings and loan associations. Money market certificates pay a yield often based on the going Treasury bill rate. Interest rates on certificates normally remain fixed over their maturity and investors face an interest penalty for early withdrawal.

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