Examlex
What is the difference between a national interest and an interest of a politician acting as a head of state? Give an example of each to illustrate your point.
Capital Account
This account records the investments made by owners or shareholders into a company, along with retained earnings and accumulated other comprehensive income.
Capital Balances
The amount of money that partners or owners have invested in a business, often reflected in the equity section of the balance sheet.
Net Income
Net income is the total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, representing the actual earnings retained.
Closing the Revenue
The process of transferring the balances from revenue accounts to a permanent equity account at the end of an accounting period.
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