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Which of the following is not a correct statement about individual and group preferences?
Payroll Checking
A dedicated bank account used by businesses specifically for managing and issuing payroll to employees.
Contra-Asset
An account on the balance sheet that reduces the value of an associated asset, such as accumulated depreciation.
Payroll Taxes
Fees applied to employers and employees, typically based on a percentage of the salaries paid by employers to their employees.
Employer's Portion
The part of payroll taxes and benefits expenses that an employer is responsible for, as opposed to the portion paid by employees.
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