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ACCOUNTING PROFIT: The difference between a business's revenue and it's accounting expenses. This is the profit that's listed on a company's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. It frequently has little relationship to a company's economic profit because of the difference between accounting expense and the opportunity cost of production. Some accounting expense is not an opportunity cost and some opportunity cost is does not show up as an accounting expenses.
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REGRESSIVE TAX A tax in which the proportion of income paid in taxes is smaller for higher income levels. A regressive income tax exists if taxpayers with more income pay a lower tax rate relative to income as income increases. A regressive tax is one of three alternations. The other two are progressive tax, in which the proportion of income paid in taxes is greater for higher income levels, and proportional tax, in which the proportion of income paid in taxes is the same for all income levels.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for defective microphones.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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APR
Annual Percentage Rate
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