Examlex
What term is used for the positive gain from a business operation after all of the expenses have been subtracted?
Balance Sheet Account
An account found on the balance sheet, which is one of the three principal financial statements; these accounts include assets, liabilities, and shareholders' equity.
Depreciation Expense
The portion of the cost of an asset that is allocated as an expense over its useful life, reflecting the decrease in value over time.
Overstate Assets
Reporting a company's assets at a value higher than their actual worth, which can inaccurately represent financial health.
Unearned Revenue Account
An account representing cash received for goods or services not yet provided; considered a liability until the service or product is delivered.
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