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For the next group of questions, consider the following syllogism: All mammals are animals that breathe by means of lungs.
All whales are mammals.
All whales are animals that breathe by means of lungs.
-What is the figure of the syllogism?
Net Sales
Net sales are the amount of revenue generated from sales activities after deducting returns, allowances for damaged or missing goods, and any discounts allowed.
Net Income
The total earnings of a company after subtracting all expenses, including taxes and interest, from its total revenue.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to ensure a company's bookkeeping system is mathematically correct.
Income Statement
A financial statement that shows a company's revenues and expenses over a specific period, leading to net income or loss.
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