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The requires creditors to notify a potential recipient of credit whenever any adverse action or denial of credit was based on a credit report.
Insurance Expense
The cost incurred by an entity to obtain insurance coverage, recognized as an expense over the period the insurance protection is provided.
Retained Earnings
The portion of net income not distributed as dividends but retained by the company to reinvest in its core business or to pay debt.
Adjusted Trial Balance
An adjusted trial balance is a list of all the accounts of a company, including any adjustments, showing the final balances to be used for preparing financial statements.
Income Statement
Financial statement that displays a company’s revenues and expenses, and ultimately its profit or loss, over a particular period, offering insight into its operational efficiency.
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