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In the early 1960s,the Kennedy administration made considerable use of
Net Income
The total profit of a company after all expenses and taxes have been deducted from revenues.
Deferred Taxes
are taxes that are accumulated due to temporary differences between the accounting income and taxable income, and will be paid or received in the future.
Consolidated Statement
Financial statements that aggregate the financials of a parent company and its subsidiaries, presenting the finances as if the group were a single entity.
Cost Method
An accounting approach where investments are recorded at their acquisition cost, without adjusting for changes in market value unless there is a decline in value judged to be other than temporary.
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