What Does NEC Stand For

question 33

Short Answer

What does NEC stand for?

---

Definitions:

Interest

The cost of borrowing money, typically expressed as a percentage of the principal amount.

Capital Balances

The amount of money that owners have invested in a company, minus any withdrawals, often shown in the equity section of the balance sheet.

Net Income

A company's profit remaining after all expenses, taxes, and losses have been deducted.

Closing the Revenue

The process of finalizing all revenue transactions within a given period, marking the end of a business's revenue cycle for that timeframe.