Examlex
Identify and state the historical significance of the following:
-Francisco Pizarro
Net Income
The net income of a business following the subtraction of all costs and tax obligations from its total earnings.
Periodic Inventory System
A method of inventory management in which the inventory levels are updated and cost of goods sold is calculated periodically at the end of a reporting period.
Adjusted Trial Balance
A list of all accounts and their balances after adjusting entries have been made, used to prepare financial statements.
Net Income
The total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue.
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