LONG TERM DEBT is all senior debt, including bonds, debentures, bank debt, mortgages, deferred portions of long term debt, and capital lease obligations. If a firm shows little to no long term debt over the years and/or their earning power could allow them to pay off their long term debt within 3-4 years, it is a good indicator of a sustainable competitive advantage.
FIXED EXPENSES in the operation of a business are those expenses that remain the same regardless of production or sales volume, i.e. do not fluctuate with sales volume. Contrast with VARIABLE EXPENSES.
USE TAX is a tax on the storing, using, consuming, and sometimes distributing tangible personal property or providing a taxable service, i.e. you will be subject to the use tax in the state where that event occurs.
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