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Income Statement
A financial statement that shows a company's revenues, expenses, and profit over a specific period.
Retained Earnings
The portion of a company’s profits that is retained within the business rather than distributed to shareholders as dividends.
Revenue Accounts
Accounts that record the income a company earns from its normal business activities.
Expense Accounts
Accounts that track the costs of operating a business, such as rent, utilities, and salaries.
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