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Which statement about mutations is true?
Balance Sheet
A business statement that consolidates the assets, debts, and shareholder equity of a company at a certain point.
Net Income
The amount of profit left after all expenses, taxes, and costs have been subtracted from total revenue.
Retained Earnings
The portion of a company's profits not distributed to shareholders as dividends but retained by the company for reinvestment or to pay off debt.
Adjusted Trial Balance
A trial balance that reflects all adjustments made to the general ledger accounts, ensuring the debits equal the credits prior to preparing financial statements.
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