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Which of the following is NOT true about performance-based assessment?
Net Income
The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue; also known as the bottom line.
Income Statement Credit Column
The section of the income statement where credit entries, typically revenues and gains, are recorded.
Balance Sheet Credit Column
The section of the balance sheet where liabilities and equity accounts are listed, typically reflecting sources of the company’s funds.
Worksheet
A document or tool used for planning, organizing information, solving problems, and making calculations.
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