SPECIAL MEMORANDUM ACCOUNT Definition

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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 It can be withdrawn or used to buy more securities.

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INVESTMENT CENTER is the responsibility center within an organization that has control over revenue, cost, and investment funds. It is a profit center whose performance is evaluated on the basis of the return earned on invested capital, e.g. corporate headquarters or a division of a large decentralized organization.

AGI (Annual Gross Income) is annualized total income prior to exclusions and deductions.

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