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Income Statement
A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.
Incurred
Refers to a cost that has been realized or a liability that has been acquired during a specific period.
Statement of Cash Flows
An overview of a company's cash transactions, detailing money coming in from operational efforts and investment activities, and money going out to cover the costs associated with these activities during a specific period.
Reliable
The quality of being consistently accurate and dependable, often used to describe data, methods, or instruments that yield similar results across repeated trials.
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