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What is the demographic transition? Explain why this transition takes place and the conditions that affect it. Support your answer with specific details.
Net Income
Profit of a company after all expenses and taxes have been subtracted from total revenue.
Matching Principle
An accounting principle that dictates that expenses should be recognized in the period in which the related revenues are earned, helping to ensure that financial statements are accurate.
Expenses
The outflows or using up of assets as part of operations of a business to generate revenue.
Revenue
The total amount of money generated by the sale of goods or services related to a company's primary operations during a specific period.
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