ORIGINAL ISSUE DISCOUNT Definition

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ORIGINAL ISSUE DISCOUNT is when a long-term debt instrument is issued at a price that is lower than its stated redemption value; the difference is called Original Issue Discount (OID).

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ENROLLED AGENT (EA) is any individual who is enrolled under the provisions of Treasury Department Circular No. 230 to practice before the IRS.

PROCESS is to subject to a process or treatment, with the end result being to ready for some purpose, improving, or remedying a condition, e.g. a manufacturing process or a sales order booking process.

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