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PAYROLL

A payroll is a company's list of its employees, but the term is commonly used to refer to: the total amount of money that a company pays to its employees a company's records of its employees' salaries and wages, bonuses, and withheld taxes the company's department that calculates funds and pays these.

OUTSOURCING

Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally, and sometimes involves transferring employees and assets from one firm to another.

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