Examlex
_______ ________ was developed to enable different local area networks to communicate with each other and has become the basis for connecting computers around the world over the Internet.
Capital Account
An account on a nation's balance of payments that records transactions involving the purchase and sale of assets, such as property and stocks.
Withdrawals
Withdrawals refer to the act of taking money out of a bank account, but in a business context, it often refers to the owner taking funds out of the business for personal use.
Income Summary
An account used in the closing process in accounting to gather all revenues and expenses for a period before transferring the net result to the capital account.
Net Income
The total earnings of a company after all expenses and taxes have been deducted from revenue.
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