Income/expenditure Transactions
Investment clubs typically generate expenditures over and above normal brokerage charges. For example an investment club may rent a room for club meetings, or use profits/subscriptions to pay for a meal for club members. If a club is using a UVS to track performance, typically non-tax deductible or non-investment related expenses are excluded from the unit value calculations through a process referred to as unit cancellation.
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Famous quotes containing the words income and/or expenditure:
“Happy are those who find wisdom, and those who get understanding, for her income is better than silver, and her revenue better than gold. She is more precious than jewels, and nothing you desire can compare with her. Long life is in her right hand; in her left hand are riches and honor. Her ways are ways of pleasantness, and all her paths are peace. She is a tree of life to those who lay hold of her; those who hold her fast are called happy.”
—Bible: Hebrew, Proverbs 3:13-18.
“The putting into force of laws which shall secure the conservation of our resources, as far as they may be within the jurisdiction of the Federal Government, including the more important work of saving and restoring our forests and the great improvement of waterways, are all proper government functions which must involve large expenditure if properly performed.”
—William Howard Taft (1857–1930)