Examlex
The _______________________ is a record containing all accounts used by a company.
Income Statement
An account that outlines a business's financial transactions, such as earnings, costs, and overall profit, for a defined timeframe.
Total Revenues
Total revenues refer to the full amount of income generated by a company from its business activities, including sales of goods or services, before any expenses are subtracted.
Net Income
The end profit of a company once every expense, tax, and cost has been taken out of its total income.
Business Entity Assumption
A fundamental accounting principle that treats the transactions of a business separately from those of its owners or other businesses.
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