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Which of the following is a long-term incentive?
Income Summary
An account used in the closing process that summarizes all income and expenses for the period, leading to the net profit or loss.
Reversing Entry
An accounting entry that is made at the beginning of a period to negate or cancel out the effects of an adjusting entry made at the end of the previous period.
Common Stock
Holding shares in a corporation that come with privileges to make decisions through voting and to earn dividends from the company's earnings.
Current Assets
Properties that an organization foresees turning into cash, selling, or expending over the course of a year or its operating cycle, whichever timeframe is more extended.
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