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Business Plans Differ in the Time Horizons That They Cover

question 69

Essay

Business plans differ in the time horizons that they cover. Discuss the three major types of business plans in terms of their intended duration and explain why all three of these types of plans are important to a business.


Definitions:

Vacation Pay

A benefit offered by employers that compensates employees while they are on leave from work for a vacation.

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act, which fund both Social Security and Medicare, requiring contributions from both employees and employers.

Federal Unemployment

The tax system in the United States that funds state workforce agencies and unemployment insurance.

Federal Income Taxes

Federal Income Taxes are taxes levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities.

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