Examlex
The average velocity of a car traveling with a constant acceleration during a certain time interval is equal to the mean of the velocities at the beginning and end of that time interval.
Net Income
The amount of profit earned by a business after all expenses and taxes have been subtracted from total revenue.
IFRS
A global set of accounting principles called International Financial Reporting Standards, formulated by the International Accounting Standards Board (IASB) to steer the compilation of financial statements worldwide.
Balance Sheet
A financial statement that summarizes a company's assets, liabilities, and shareholder equity at a specific point in time.
Statement of Financial Position
Another term for the balance sheet, emphasizing its role in showing the financial status of an entity at a point in time.
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