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When the United States entered World War II in December 1941,
Stockholders' Equity
The residual interest in the assets of a corporation after deducting liabilities, representing ownership equity spread among shareholders.
Assets
Assets are possessions or property that a company owns or controls with the anticipation of receiving future economic gains.
Expenses
Costs incurred in the process of earning revenue; may include costs like rent, salaries, and utilities.
Business Transaction
An economic event or condition that directly changes an entity’s financial condition or directly affects its results of operations.
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