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Net Loss
This occurs when a company's expenses exceed its revenues during a specific period of time, leading to a negative net income.
Ending Capital
The amount of capital a company or individual has at the end of a financial period, after all transactions have been accounted for.
Income Summary
An account in the general ledger used to transfer the balances of temporary accounts to permanent accounts at the end of an accounting period.
Capital
Financial assets or the financial value of assets, such as cash and goods, used by a business to generate income or wealth.
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