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When evaluating macro-marketing:
Insurance Policy
An insurance policy is a legal contract between an insurer and the insured, outlining the terms, conditions under which the insurer agrees to compensate the insured for specific losses.
Ending Retained Earnings
This is the total amount of net income left over for a company after it has paid out dividends to its shareholders, shown at the end of a financial period.
Net Income
The earnings a company has left after subtracting all costs, taxes, and expenses from its overall revenue.
Adjusting Entry
A journal entry made at the end of an accounting period to record revenue or expenses in the period they occur rather than when cash is received or paid.
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