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Reconciliation Functions
The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement, to ensure accuracy and consistency in financial accounts.
Federal Unemployment Compensation Taxes
Taxes imposed on employers to fund unemployment benefits for workers who have lost their jobs.
Medicare Taxes
Taxes deducted from paychecks to fund the Medicare program, which provides health insurance to individuals over 65 or with certain disabilities.
Contingent Liabilities
Liabilities that may arise from past transactions if certain events occur in the future.
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