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One Year
A period of twelve consecutive months used as a standard measure of time for accounting, budgeting, and financial reporting.
Operating Cycle
The duration of time it takes for a business to buy inventory, sell it to customers, and collect the cash from the sales.
Mandatory Payroll Deductions
Compulsory deductions from an employee's paycheck by the employer, covering taxes, social security, and other legally required withdrawals.
Voluntary Deductions
Amounts that a person chooses to have withheld from their paycheck, such as contributions to retirement plans or health insurance premiums.
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