Examlex
Which of the following would not be a required biological property of genetic material?
Retained Earnings
The portion of net income that is not distributed to shareholders as dividends, but rather kept by the company for reinvestment in its operations or to pay debt.
Closing Process
The accounting procedures used to close out business accounts at the end of an accounting period.
Income Summary Account
A temporary ledger account used during the closing process that accumulates revenues and expenses before transferring the net amount to the capital or retained earnings account.
Net Income
The sum of money a company retains as profit after all financial obligations and taxes are deducted from its total income.
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