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Colonialism often erected boundaries that corresponded poorly with preexisting cultural divisions.
Bad Debts Expense
The portion of receivables that a company anticipates will not be collected and is thus written off as an expense in the financial statements.
Operating Expense
Incurred expenses that are related to a company's main operational activities, excluding cost of goods sold and capital expenditures.
Statement of Income
A financial statement that reports a company's financial performance over a specific period, showing income, expenses, and net profit or loss.
Allowance for Doubtful Accounts
An estimation of the accounts receivable that may not be collected due to customer defaults.
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