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Liabilities
Liabilities or amounts due by a corporation to third parties or people outside the organization.
Accrued Expense
An accounting term referring to expenses that have been incurred but not yet paid, representing liabilities on a company's balance sheet.
Income Taxes
Taxes levied by the government on income generated by businesses and individuals within their jurisdiction.
Accounting Period
A specific period of time used for financial reporting, typically a year or quarter, during which a company's financial performance is calculated.
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