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question 23

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79. An accountant with has the ability to create a budget, compare the budget to the actual income statement,
And determine unnecessary expenses.


Definitions:

Overtime Rate

The increased pay rate employers are required to pay employees for hours worked beyond the standard workweek, typically 1.5 times the regular hourly rate.

Net Pay

The amount of an employee's salary that remains after deducting taxes and other statutory deductions.

Gross Pay

The total amount of an employee's earnings before any deductions or taxes are applied.

Federal Income Tax

The federal government's imposition of a financial charge on the yearly profits of individuals, corporations, trusts, and different legal organizations.

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