Examlex
Private insurance companies cannot do anything to reduce the impact of the moral hazard problem.
Revenues
Income generated from normal business operations, often from the sale of goods and services to customers.
Expenses
Costs incurred by a business or individual in the process of earning revenue, ranging from utilities to salaries.
Drawing Account
An account used to record withdrawals made by an owner from the business for personal use.
Owner's Capital Account
An equity account that represents the owner's invested capital plus any retained earnings or minus any withdrawals.
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