PROPRIETORS DRAW Definition

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PROPRIETORS DRAW is when a business proprietor draws money for personal needs, but is taxed on business results (at individuals' marginal rate) regardless of drawings.

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FASTBAC is First Automotive Short-Term Bonds and Certificates; asset-backed securities supported by automo­tive loan contracts.

ACTUARIAL SCIENCE applies mathematical and statistical methods to finance and insurance, particularly to the assessment of risk. Actuaries are professionals who are qualified in this field.

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