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Discuss the differences between participatory democracy and representative democracy.
Gains and Losses
Increases or decreases in equity from transactions and other events and circumstances affecting the entity, other than those relating to contributions from or distributions to equity participants.
Salary Allowances
Monetary benefits in addition to regular salary provided to employees, which may cover expenses such as housing, transportation, and medical expenses.
Partnership Net Income
The total profits earned by a partnership that are to be divided among partners in agreed-upon proportions.
Equity
The amount of funds contributed by owners (shareholders) plus the retained earnings (or losses), representing ownership interest in a firm.
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