Examlex
The term "spam" means
Income Summary
An account used in closing entries to collect the revenue and expenses for a specific accounting period before transferring the net result to capital.
Expenses
Costs incurred in the process of earning revenues, typically categorized as operating or non-operating.
Owner's Drawings
Withdrawals made by the owner of a sole proprietorship or partnership from the business for personal use.
Revenues
The total income generated from the sale of goods or services related to a company's primary operations.
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