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Because minimum wage is a price floor
Prepaid Expense
An expense that has been paid in advance and is recorded as an asset until it is actually incurred.
Accrued Liabilities
Obligations that a company has incurred during a specified accounting period but has not yet paid out, often appearing as current liabilities on the balance sheet.
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value over time.
Indirect Method
A technique used in cash flow statement preparation that adjusts net income for changes in balance sheet accounts to calculate operating cash flow.
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