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What forbids government officials from spending money on any purpose not explicitly authorized by law?
Net Loss
The amount by which total expenses exceed total incomes for a business over a specific period, indicating a negative financial performance.
Net Income
The total earnings of a company after subtracting all costs and expenses, including taxes and interest, from its total revenues.
Balance Sheet Columns
The sections within a balance sheet that display a company's assets, liabilities, and shareholders' equity at a specific point in time.
Current Ratio
A liquidity ratio that measures a company's ability to pay short-term and long-term obligations, calculated as current assets divided by current liabilities.
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