Examlex
Which of the following was true of free blacks in the South between 1830 and 1860?
Net Income
The final amount of money a company makes after taking away all expenses, including taxes and the costs of operation, from the total income.
Owner Drawings
Amounts withdrawn by the owner of a business for personal use, reducing the owner's equity in the business.
Revenues
The income earned from normal business operations and includes discounts and deductions for returned merchandise.
Expenses
Expenses refer to the outflow of money to another person or company to pay for an item or service, or for costs necessary to operate a business.
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