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Bank Overdraft
Bank overdraft is a negative bank balance that happens when withdrawals exceed available funds, but the bank covers the shortfall. It’s essentially a short-term loan and is recorded as a liability. Overdrafts may come with fees or interest, making them a costly form of credit if unmanaged.
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Business Valuation
The process of determining the economic value of a business, used in sales, mergers, or fundraising.
Breakage
Revenue recognized from unredeemed gift cards, vouchers, or prepaid credits that customers never use.
BAS Agent
A professional registered with the Tax Practitioners Board authorized to prepare and lodge BAS on behalf of businesses.
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