STATUTORY DEDUCTIONS Definition

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STATUTORY DEDUCTIONS are those deductions that are required by law or regulation, e.g. payroll taxes deducted from wages.

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ELECTRONIC DATA PROCESSING (EDP) is the processing of information by computer as opposed to handwritten records.

INTEREST DATES are the dates on which interest is payable to the holders of bonds: for government, corporate and municipal bonds, twice a year; for mortgage-backed securities, every month, and for foreign securities typically once a year.

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