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Unearned Revenue
Funds paid to a company for products or services that are still to be provided or executed.
Income Statement
A financial statement that displays a company's revenues, expenses, and net income over a specific period, demonstrating the financial performance of the business.
Net Loss
Net loss occurs when a company's expenses exceed its revenues during a specific accounting period, indicating financial loss.
Adjustments Columns
Columns in accounting journals or ledgers used to make corrections or modifications to financial entries for accurate reporting.
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