JOINT ACCOUNT Definition

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JOINT ACCOUNT is a financial account owned by two or more persons who share equally in the rights and liabilities of the account.

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MORTGAGE BOND is a bond in which the issuer has granted the bondholders a lien against the pledged assets.

ALTERNATIVE MINIMUM TAX (AMT) is an alternative tax which includes certain tax preference items that are added back into adjusted gross income. If higher than the regular tax, then the regular tax plus the amount by which AMT exceeds the regular tax is paid.

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