Examlex
A person you recently met in one of your classes tells you that she was adopted shortly after her birth. This is an example of
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.
Debit Column
A column in accounting ledgers and financial statements used to record increases in asset or expense accounts, and decreases in liability, equity, or revenue accounts.
Credit Column
A column in accounting records or financial statements used to record amounts that reduce balances in asset or expense accounts, or increase balances in liability, equity, or revenue accounts.
Financial Statement
A written record that conveys the financial activities and conditions of a business or individual.
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