Examlex
Which of the following statements about custody arrangements in divorced families is NOT true?
Owner's Capital
The amount of equity in a company that is directly attributable to the owner(s), representing their stake in the company’s assets after liabilities have been subtracted.
Revenue
Income derived from the core business activities of a company, specifically through selling products or services.
Net Income
The residual financial benefit a company holds after reducing total income by all expenditures and tax payments.
Owner's Drawings Account
An account that tracks the funds withdrawn by the owner from the company for personal use.
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