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Operating Activities
Day-to-day actions and transactions related to running a business, such as selling products, paying wages, and purchasing inventory.
Net Income
The final financial gain of a business after removing all expenses, taxes, and costs from the gross income.
Financing Activities
Transactions and events whereby resources are obtained from, or repaid to, owners (equity financing) and creditors (debt financing).
Equity Accounts
Accounts that represent the owner's claim or interest in the assets of a business, reflected in the equity section of the balance sheet.
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