RRA Definition

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RRA is Reserve Recognition Accounting.

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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.

IMPREST BASIS, in cash accounts, means that the exact amount of fund expenditures is replaced periodically.

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