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As a general rule,graphic aids should be used whenever practical.
Net Income
The total profit or loss of a company after all revenues, expenses, taxes, and costs have been subtracted.
Financial Statements
Reports that summarize the financial performance and position of a business, including the balance sheet, income statement, and cash flow statement.
Accrued Revenues
Revenues earned but not yet received in cash or recorded at the statement date, often recognizing revenue before the payment is received.
Financial Statements
Financial Statements are formal records of the financial activities and position of a business, person, or other entity, presented in a structured manner.
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