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Why are salt lakes salty?
Liability
refers to any type of financial commitment or obligation that an entity is responsible for, such as debts and legal responsibilities.
Employer Identification Number
A unique nine-digit number assigned by the IRS for identification of businesses in the United States for tax purposes.
Monthly Depositor
A business classified as a monthly depositor will make its payroll tax deposits only once each month for the amount of Form 941 taxes due from the prior month.
Look-Back Period
A specified time frame in the past during which relevant financial transactions or performance is reviewed or analyzed.
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