RESERVE Definition

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RESERVE is an accounting entry that properly reflects contingent liabilities.

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EXCISE TAX is a tax imposed by federal, state, and local governments on an act, occupation, privilege, manufacture, sale, or consumption that is not deductible (e.g., tobacco, gasoline and spirits). This term is in increasing usage to describe almost every tax other than income tax and property tax.

TARR is Time-Adjusted Rate of Return.

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