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Suppose Carol's Candid Cameras wants to increase its total revenue. If the firm lowers the price of cameras by 2 percent, Carol must be predicting that the quantity
Owner Drawings
Amounts withdrawn by the owner of a business for personal use, reducing the owner's equity in the business.
Revenues
The income earned from normal business operations and includes discounts and deductions for returned merchandise.
Expenses
Expenses refer to the outflow of money to another person or company to pay for an item or service, or for costs necessary to operate a business.
Owner's Capital
The amount of equity in a company owned by its owner or shareholders, representing the net assets after liabilities have been deducted.
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