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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ACCRUED EXPENSES are expenses incurred during an accounting period for which payment is postponed.

REALIZED NET INCOME, in relation to a particular investment, is the amount by which the total cash gains from an investment exceeds the total losses from the investment. The Realized Net Income from any investment cannot be less than zero.

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