Please Define the Following Key Terms

question 57

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Johannes Kepler

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Definitions:

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues, indicating the actual profitability of the company over a specified time period.

Bad Debt Expense

The estimated amount of accounts receivable that a company does not expect to collect, treated as an expense on the income statement.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting wear and tear, obsolescence, or decline in value.

Ending Inventory

The final amount of products available for sale at the conclusion of a fiscal period.