INTEREST-BEARING Definition

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INTEREST-BEARING means paying interest.

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BOOKKEEPING is the art, practice, or labor involved in the systematic recording of the transactions affecting a business.

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.

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