NONPROFIT ORGANIZATION Definition

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NONPROFIT ORGANIZATION is one that has committed legally not to distribute any net earnings (profits) to individuals with control over it such as members, officers, directors, or trustees. It may pay them for services rendered and goods provided. Also known as NOT-FOR-PROFIT ORGANIZATION.

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DISCOUNT HOUSE is a company that specializes in discounting bills of exchange, Treasury bills and short-dated government bonds.

FEE ACCOUNTANT is an individual who performs manual or automated bookkeeping services and/or maintains the official accounting records.

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