EMPLOYEE BENEFITS Definition

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EMPLOYEE BENEFITS is non-wage compensation provided to employees, such as group insurance, retirement benefits, day care, tuition reimbursement, and specialized benefits.

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STRANDED PLANT is a cost that has been incurred, but can not be reversed. Usually referred to as a sunk cost.

TAX EFFECT METHOD is where, irrespective of when is a tax payable, its effect should be recognized in the year in which the relevant income has been recorded.

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