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What is a budget contingency and what are three reasons it might be useful?
CPP Expense
Costs associated with the Canada Pension Plan contributions by an employer, representing a payroll expense.
Non-current Note
a long-term financial obligation or loan that is not due for repayment within the next year or operating cycle of the business.
Instalment Payments
Payments made towards the cost of a purchase over a period, allowing the buyer to pay off the total amount owed in smaller, periodic amounts.
Principal Portion
The part of a loan payment that goes toward reducing the original loan amount, as opposed to the interest portion.
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