IOU Definition

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IOU is an informal debt instrument in the form of a written promise to pay back money owed; e.g., personal loans and professional services.

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EXCESS EARNINGS is that amount of anticipated benefits that exceeds a fair rate of return on the value of a selected asset base (often net tangible assets) used to generate those anticipated benefits.

PER CAPITA INCOME is the mean income computed for every man, woman, and child in a particular group. It is derived by dividing the total income of a particular group by the total population in that group.

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