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One comprehensive study analysis concludes that in order to succeed,punishment should be used in all of the following manners except:
Income Summary
An account used in the closing process during the accounting cycle that summarizes the results of operations—revenues and expenses—before transferring the net income or loss to the owner's equity.
Revenue
The total amount of money generated by the sale of goods or services related to a company's primary operations before any expenses are deducted.
Expense Accounts
Expense accounts are used in accounting to track money spent or costs incurred in a company's operations.
Retained Earnings
Earnings not paid out as dividends but instead reinvested in the company or used to pay off debt.
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