Examlex
Which of the following describes a pyramid model that orders needs, based on their presumed strength or potency?
Income Summary
An account to which all revenue and expense accounts are transferred at the end of an accounting period to summarize the results of operations for that period.
Normal balance
The side of an account (debit or credit) where increases in the account are recorded, depending on the account type.
Inventory balance
The total value of all goods and materials held by a company intended for sale or production.
Net Income
The profit of a company after all expenses and taxes have been deducted from revenue.
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