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Describe how fireflies take advantage of the communication systems of their prey.
Unearned Revenue
Money received by an entity for a service not yet performed or a product not yet delivered. It is recorded as a liability until the service or product is delivered.
Net Income
The total profit or loss of a company after all revenues, expenses, and taxes have been accounted for.
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life.
Adjusting Entry
Journal entries made in accounting records at the end of an accounting period to update accounts for accurate financial reporting.
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