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Wages
Wages are payments made to employees for their labor or services, typically calculated on an hourly, daily, or piecework basis.
Workweek
A recurring period of seven consecutive days designated for work, usually comprised of Monday through Friday.
Balance Sheet
A financial statement that provides a snapshot of a company’s financial condition at a specific point in time, showing assets, liabilities, and shareholders’ equity.
Annual Depreciation
The allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value due to wear and tear.
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