SPECIAL MEMORANDUM ACCOUNT (SMA) is a sub-account of a margin account for excess equity. It can be withdrawn or used to buy more securities.
ABNORMAL GAIN see NORMAL LOSS.
BASIC TENETS OF ACCOUNTING is four in number: 1. Assets = Liabilities + Owners Equity, 2. Debits = Credits, 3. Assets are on the left (debit side), and, 4. Liabilities and Equity are on the right (credit side).
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