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In the context of business communication, one should:
Interim Periods
Shorter reporting periods within a fiscal year, such as quarters or months, used by companies to provide timely financial information.
Cash Basis
An accounting method where revenues and expenses are recognized only when cash is received or paid, respectively.
Accrual Basis
An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when the cash transactions occur.
Income
The money received, especially on a regular basis, for work or through investments.
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