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The most common functional limitations do not include
Net Income
The total profit of a company after all expenses and taxes have been subtracted from total revenue.
Purchases
The total amount spent on goods and services for the purpose of resale or use in production within a given accounting period.
Ending Inventory
The final amount of goods available for sale at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the goods sold.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that serves as a global framework for financial reporting.
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