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How did W.E.B.Du Bois's background shape his views?
Expenses
Expenses are the costs incurred in the process of generating revenue, including operational costs, salaries, and utility expenses, critical for determining a company's net income.
Revenues
The total income generated by a company from its activities, before any expenses are deducted.
Income Summary
An account in the ledger that is used to transfer the balances of revenue and expense accounts at the end of an accounting period to determine the net income or loss.
Net Income
The total earnings of a company after subtracting all costs and expenses from revenues; also known as net profit.
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