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Explain the difference between job-order and process costing.
Net Income
The total earnings of a company after subtracting all expenses from revenues, which includes costs, interest, taxes, and other expenditures.
Sales
The total revenue generated from goods or services sold by a company.
Statement of Comprehensive Income
A financial statement that includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
Net Income
Company's earnings following the removal of all operational costs and taxes from its incoming revenue.
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