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The author argues that generalization arises from our
December 31
The last day of the year, commonly used as a cutoff date for accounting and financial reporting purposes.
Reported
Refers to the provision of formal statements or accounts of financial activities or conditions.
Net Income
Net income refers to the total profit of a company after all expenses, taxes, and deductions have been subtracted from total revenue.
Accounts
Financial records that track the transactions and balances of specific assets, liabilities, revenues, or expenses.
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