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tangible personal business property: Depreciable operating assets of a business, other than real property, including machinery, furniture and fixtures, automobiles and trucks, and equipment.

term bonds: Bonds that mature in one lump sum at a specified future date.

time period (or periodicity) concept: The idea that the life of a business is divided into distinct and relatively short time periods so that accounting information can be timely.

times interest earned ratio: Ratio that indicates the company's margin above the fixed interest charged to be paid to creditors; calculated by dividing income before interest and income taxes by interest expense.

trading securities: Debt and equity securities purchased with the intent of selling them should the need for cash arise or to realize short-term gains.

transactions: Exchange of goods or services between entities (whether individuals, businesses, or other organizations), as well as other events having an economic impact on a business.

transportation costs: Costs of transferring merchandise into or out of a firm.

treasury stock: Issued stock that has subsequently been reacquired by the corporation.

trial balance: A listing of all account balances; provides a means of testing whether total debits equal total credits for all accounts.  

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