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Current Assets
Assets expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.
Net Income
The amount of revenue left over after deducting all expenses, taxes, and costs from total revenue.
Cost of Goods Sold
The direct costs attributable to the production of goods sold by a company, including materials and labor.
Contra-Asset
An account on a company's balance sheet that reduces the value of an asset, often used for accumulated depreciation.
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