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Content standards created by the NCTM for children from preschool through eighth grade include
Tax Allowances
Deductions or adjustments to taxable income permitted by tax authorities, allowing individuals or businesses to reduce their taxable income.
Contingent Liabilities
Potential liabilities that may occur depending on the outcome of a future event, which are recorded in the financial statements if the occurrence is likely and the amount can be reasonably estimated.
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