TAX Definition

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TAX is a charge against a legal entitys person or property or activity for the support of government, e.g. income taxes, sales taxes, duties and levies.

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COVERAGE RATIO is a measure of a corporations ability to meet a certain type of expense. In general, a high coverage ratio indicates a better ability to meet the expense in question. Examples: dividend coverage, fixed-charge coverage, interest coverage, preferred dividend coverage.

PERFORMING ASSET is an asset that provides a dependable annual financial return; for example, production machinery or, in transportation, an airliner.

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