Examlex
A momentary shift in brain wave activity to the pattern normally recorded during sleep is called
Rent Expense
The cost incurred for utilizing a property or equipment for business purposes, recognized as an expense in the accounting period it is incurred.
Net Income
The company's net income following the deduction of all costs and taxes from the total income.
Income Summary
An account to which the revenues and expenses are transferred in order to close the books; it reflects the net income or loss at the end of a period.
Owner's Capital Account
An account on a company's balance sheet that represents the owner's investment and retained earnings in the business.
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