Examlex
What are the five main types of power? Briefly describe each type.
Owners' Equity
The residual interest in the assets of a business after deducting its liabilities, representing the ownership's value in the firm.
Net Worth
The total assets of an individual or company minus its total liabilities, representing the financial value of the entity.
Net Income
The total profit of a company after all expenses and taxes have been deducted from revenue.
Financial Reporting
The process of producing statements that disclose an organization's financial status to management, investors, and the government.
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