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Briefly explain the significance of the SRY gene.What phenotype(s)does it cause?
Net Income
The residual financial gain of a business following the deduction of every expense, tax, and cost from its total revenue.
Accounting Cycle
The collective process of recording and processing the accounting events of a company, culminating in the production of financial statements within a specific period.
Income Summary
An account used in the closing process that summarizes the revenues and expenses for an accounting period before transferring the net income or loss to owner's equity.
Revenue and Expense Accounts
Accounts in the general ledger that track the income generated from sales and the costs incurred during business operations, respectively.
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