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Incurred Expenses
Costs that have been recognized or consumed in the operations of a business, regardless of the payment status.
Net Income
The total profit or loss of a company after deducting all expenses, taxes, and costs from total revenue.
Accounting Period
The span of time at the end of which the financial position of a business is calculated and reported, typically a month, quarter, or year.
Unexpired Insurance
The portion of an insurance premium that has not yet expired during the policy period.
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