Examlex
Which of the following is done during Phase 2 of the writing process?
Expenses
Monetary outflows or costs incurred in an entity's operations.
Owner's Equity
The residual interest in the assets of a company after deducting liabilities, representing the owner's claim on the business assets.
Net Income
The total earnings of a company after deducting all expenses and taxes from total revenue.
Drawings
Amounts withdrawn by the owner(s) of a business for personal use.
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