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Prepaid Asset
An asset on the balance sheet representing goods or services paid for in advance, which are to be consumed in future accounting periods.
Pre-Tax Book Income
The income of a business before taking into account any tax liabilities, reflecting the company's financial performance without the impact of tax expenses.
Taxable Income
The portion of an individual's or entity's income used to determine how much tax is owed to the government, after all deductions and exemptions are applied.
Pre-Tax Operating Loss
The loss a company incurs from its operations before accounting for taxes, indicating how well the core business is performing.
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