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Source: U.S.Census Bureau Current Population Surveys.
-Based on the graph,which of the following statements is accurate?
Worksheet
A document or spreadsheet used for planning, adjusting entries, and preparing financial statements before they are finalized in official reports.
Income Statement
A financial statement that reports a company's financial performance over a specific period by detailing revenues, expenses, and net income.
Balance Sheet
A financial statement that provides a snapshot of a company's financial condition at a specific point in time, showing assets, liabilities, and equity.
Permanent Account
A balance sheet account that carries its ending balance over to the next accounting period, such as assets, liabilities, and equity accounts.
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