Examlex
Instructions: For the following question(s) , select the letter of the answer that correctly identifies each type of prewriting. The prewriting below is an example of Living in a big city traffic jams crowds, waiting in line art galleries, museums, concerts, theaters, performances restaurants and food carts sounds of horns, sirens, police whistles park people sitting on grass, throwing a Frisbee, eating lunch skyscrapers subway
Contra Liability
A liability account that decreases the value of the liability to which it is related, essentially serving as a negative liability.
Net Income
The total profit or loss of a company after all revenues, expenses, taxes, and costs have been subtracted.
Financial Statements
Reports that summarize the financial performance and position of a business, including the balance sheet, income statement, and cash flow statement.
Accrued Revenues
Revenues earned but not yet received in cash or recorded at the statement date, often recognizing revenue before the payment is received.
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