OUT-OF-P0CKET Definition

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OUT-OF-P0CKET are expenses requiring an outlay of cash in a given time period, e.g., payroll, advertising and other operating expenses, but not depreciation.

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TAXABLE EQUIVALENT YIELD is the yield that must be received on a taxable security to provide the holder with the same after-tax return as that earned on a tax-exempt bond or preferred stock.

CUSTOMS are the authorities charged with collecting duty and controlling the entry of merchandise into a country.

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