MINIMUM PAYMENT is the minimum amount that you must pay, e.g. usually monthly on a home equity loan or line of credit. In some payment agreements the minimum payment may be "interest only" (simple interest). In other loan agreements, the minimum payment may include principal and interest (amortized).
DEFICIT is a debit balance in the Retained Earnings account resulting from accumulated losses.
CUSTOMS BROKER is an individual or firm licensed to process entry and clear goods into the country for another.
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