Examlex
Briefly discuss the various types of governmental funds and proprietary funds.
Liquidation
The process of winding down a company by selling off its assets to pay creditors and distribute any remaining assets to shareholders.
Net Pay
Gross pay less payroll deductions; the amount the employer is obligated to pay the employee.
Payroll Taxes
Taxes that employers are required to withhold from employees' paychecks and/or pay on behalf of their employees, including Social Security and Medicare taxes.
Discounting
In finance, refers to the process of determining the present value of a payment or a series of payments that will be received in the future.
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