Examlex
Which four elements make up 96% of the matter found in all living organisms?
Cash
A company's currency or assets that can be immediately used for transactions or payments.
Supplies
Items that are used in the day-to-day operations of a business, often categorized as a current asset on the balance sheet.
Income Summary
The income summary account is used in accounting to transfer revenue and expense account balances to determine the net income or loss for a given period before closing them to the retained earnings account.
Owner's Capital
The amount of money and assets invested in a business by its owner, representing the owner's claim against the company's assets.
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