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cDNA
Generally Accepted Accounting Principles
A set of accounting standards and procedures adopted in the U.S. that guide how financial statements are prepared and reported.
Correcting Entries
Entries made in a journal to correct mistakes or inaccuracies found in the financial statements or ledgers after they have been posted.
Revenue
The sum of income a corporation generates from selling products or offering services over a specified timeframe.
Expense
refers to the money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business.
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