TAXABLE Definition

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TAXABLE refers to goods or funds subject to taxation.

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OPEN BALANCE EQUITY is an account that is automatically created by QuickBooks whenever a company is created.  It is an equity account similar to Retained Earnings or Owner Capital. The Open Balance Equity account is basically a "plug" account used by QuickBooks to balance a transaction (basic accounting debits=credits). QuickBooks will enter a balance in the Open Balance Equity account for two reasons: beginning account balances or forced adjustments.

YELLOW SHEETS is a daily publication of the National Quotation Bureau that details the bid and asked prices and firms that make a market in corporate bonds traded in the over-the-counter market. Yellow Sheets are to bonds what pink sheets are to unlisted stocks.

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