Examlex
Which of the following accounts' balance is carried forward to the next accounting period?
Net Income
Net income is the total earnings of a company after all expenses and taxes have been subtracted from total revenue, indicating the company's profitability over a specific period.
Prepaid Insurance
Payments made for insurance coverage prior to receiving the benefit, considered a current asset on the balance sheet.
Accrued Interest Expense
Interest that has been incurred but not yet paid, reflecting the cost of borrowing over a period of time.
Profit Margin Ratio
A financial metric used to evaluate a company's profitability by comparing net income to revenue.
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