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________ Takes Place When a Company Combines with Other Companies

question 99

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________ takes place when a company combines with other companies in different, but associated, industries.


Definitions:

Retained Earnings

Represents the portion of net income that is retained by the company rather than being distributed to its owners or shareholders.

Utilities Expense

An expense incurred by a business for basic utilities, such as electricity, gas, and water, which are necessary for operations.

Fees Earned

Revenue generated from providing services.

Prepaid Insurance

Insurance costs paid for in advance, recorded as a current asset until the period the insurance coverage relates to passes.

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