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What is the difference between real and nominal GDP and why do economists make this distinction?
Retained Earnings
The portion of net income that is not distributed to shareholders but is kept by the company for reinvestment or debt payment.
End-Of-Period Spreadsheet
A tool used in accounting to compile all balances and adjustments at the end of an accounting period before the preparation of financial statements.
Journal Entry
A record in accounting that represents a transaction and its effect on various accounts, used to keep track of all business transactions in a company's books.
Revenues
Income generated from normal business operations and other business activities.
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