Examlex
The business owner's policy (BOP) typically includes only:
Proceeds
The total amount of money received from a transaction before any deductions are made for costs or expenses.
Interest-Bearing
Referring to debt securities or loans that accrue interest over time, payable to the holder or lender.
Note Payable
A written promise to pay a specified amount of money, usually with interest, at a designated future date.
Withheld
Refers to a portion of an employee's wages not paid out directly to them but instead held back for purposes such as tax payments.
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