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A patient diagnosed with a myocardial infarction has developed pulmonary edema. The family asks the nurse about the cause of this disorder. With which of the following should the nurse respond?
Expenses Accounts
Accounts that track money spent or costs incurred in a company’s operations to generate revenue.
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.
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