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An owner of a local salon realized that by decreasing the prices that she charges for haircuts,her revenue has increased.This implies that
Unauthorized Payments
Financial transactions made without proper approval or beyond the scope of allowed expenditures.
Post-retirement Benefits
Financial benefits, such as pensions and healthcare, provided to employees after they retire from the company.
Retired Employees
Individuals who have concluded their professional careers and are no longer working, often receiving pensions or retirement benefits.
Current Liability
A financial obligation a company is expected to settle within one fiscal year or its current operating cycle, whichever is longer.
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