Examlex
What gives bone its flexibility?
Deductibility
The ability of an expense to be subtracted from gross income to determine the taxable income, thus reducing the amount of tax owed.
Contributions
Payments or donations made to an organization, which can be in the form of money, goods, or services.
Prior Service Cost
The expense recognized by a pension plan for benefits earned by employees in periods prior to the implementation of the pension plan.
Projected Benefit Obligation
An actuarial calculation of the total projected benefits owed to employees in a defined benefit plan, factoring in expected future salary increases.
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