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The autonomic nervous system contains two branches called the
Accumulated Depreciation
This accounts for the total depreciation expenses charged against a fixed asset since it was put into use, reflecting the decrease in value of the asset.
Income Summary
An account used in the closing process that summarizes revenues and expenses for a period, determining the net income or loss.
Owner's Drawings
Withdrawals made by the owner of a business from the company's funds for personal use.
Owner's Equity Accounts
Accounts reflecting the owner's investment in the business plus any profits retained in the business, minus any withdrawals made.
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