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What is the difference between a firm's mission and its strategy?
Debit Total
The debit total represents the sum of all debit entries recorded in an account during a financial period.
Credit Total
The sum of all credit entries in an account or financial transaction.
Net Income
The final profit of a business, calculated by removing all expenditures, taxes, and financial losses from the total income.
Adjusted Trial Balance
A list of all accounts and their balances after adjustments are made, used to prepare financial statements.
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