TAB Definition

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TAB is Tax Anticipation Bill.

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MANAGEMENT EXPENSE is the management fee deducted from a funds average net assets to pay an advisor or sub-advisor. This fee is normally on a sliding scale. As the net assets of the fund increase, the percentage deducted for management fees decreases. A fund can also have a fixed rate or flat fee to compensate the advisor.

SUCCESSOR AUDITOR is the auditor of a client for the current year when that client had another auditor in prior years. The auditor who no longer audits  that client is the predecessor auditor.

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