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A Purchases account is not needed under a periodic inventory system.
Net Income
The amount a company earns after deducting every cost, expense, and tax from its total income.
Price-Earnings Ratio
A valuation ratio of a company's current share price compared to its per-share earnings, used to evaluate if a stock is over or undervalued.
Market Price
The present rate at which a service or asset is being traded.
Net Income
The final amount of money a company makes after removing all operational costs, taxes, and additional expenses from the overall income.
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