PURCHASE MONEY MORTGAGE Definition

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PURCHASE MONEY MORTGAGE (PMM) is seller financing as a part of the purchase price.

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BELOW THE LINE, in accounting, denotes credits or debits affecting balance sheet accounts rather than the income statement. Extraordinary items may also appear below the net profit line in the income statement, but accounting standards-setters have increasingly favored reflecting most such items in periodic net income.

HARDWARE, in data processing, is a computer and associated physical equipment involved in data processing or communications functions as opposed to software (the computer programs that provide instructions the computer follows).

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