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What Is the Purpose of an Aging Schedule

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What is the purpose of an aging schedule?


Definitions:

Delinquent Tax Liabilities

are tax obligations that have not been paid by the deadline, resulting in overdue taxes owed to the government.

Tax Authority

The governmental organization responsible for enforcing tax laws and collecting taxes.

Cash Flow

This represents the total amount of money being transferred in and out of a business, especially in terms of operational, investment, and financing activities.

Employees

Employees refer to individuals hired by an organization or company to perform specific duties in exchange for compensation.

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