Examlex
The price-specie-flow mechanism illustrated why one nation's gains from trade were accompanied by another country's losses.
Revenue Account
An account that tracks the income earned by a business from its normal operations, such as sales of goods or services.
Capital
Financial resources or assets owned by a business, used to fund operations and investments.
Net Loss
A financial situation where the total expenses of a business exceed its total revenues, indicating a negative profit.
Income Summary
An account in which the revenues and expenses are summarized during the closing process, used to transfer net income or loss to owner's equity.
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