Examlex
Select the letter of the correct answer for each of the following questions. From the group below, select the letter of the sentence that is limited enough to be the topic sentence of a good paragraph.
Journal Entry
A journal entry is a record of a business transaction in the accounting books, detailing the financial effects of that transaction.
Net Income
The company's net income following the deduction of all costs and taxes from its earnings.
Income-Sharing Ratio
The proportionate distribution of profit or loss among partners in a partnership according to their agreed percentages.
Net Assets
The total assets of a company or individual minus all its liabilities, representing the owners' or shareholders' equity.
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