SURETY BOND Definition

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SURETY BOND is a contract by which one party agrees to make payment on any default or the debt of another party.

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OPERATING INCOME is revenue less cost of goods sold and related operating expenses that are applied to the day-to-day operating activities of the company. It excludes financial related items (i.e., interest income, dividend income, and interest expense), extraordinary items, and taxes.

TRANSACTION is an event or happening that changes financial position and/or earnings.

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