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Roy really disliked his job. He forced himself to go to work each day out of fear of losing his only source of income. Roy was working mainly because of
Income Tax Expense
The cost incurred by individuals or corporations due to income taxes.
Average Effective Tax Rate
The average effective tax rate is the actual percentage of their income that individuals or corporations pay in taxes, after all deductions and credits, across different jurisdictions.
Financial Asset
Any asset that is cash; an equity instrument of another entity; a contractual right to receive cash or another financial asset from another entity, or to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or a contract that may be settled in the entity’s own equity instruments and is a non-derivative for which the entity may be obliged to receive a variable number of the entity’s own equity instruments, or a derivative that may be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments.
Marketplace Convention
Commonly accepted standards, norms, or practices adopted by a marketplace or industry.
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