ACCOUNTS RECEIVABLE Definition

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ACCOUNTS RECEIVABLE is a current asset representing money due for services performed or merchandise sold on credit.

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TRADE DEBTORS represent amounts of money owed by customers who have purchased goods/services from the company.

FEDERAL UNEMPLOYMENT TAX ACT (FUTA) is a U.S, federal law providing guidelines for the unemployment compensation system. A Federal tax is paid by all liable employers to fund the administration of Federal and State unemployment insurance programs and the extended benefits program. FUTA provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both a federal and a state unemployment tax.

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