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Kathryn Nicholson
on Nov 14, 2024

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In the owner's equity statement revenues are listed first followed by expenses and net income (or net loss).

Owner's Equity Statement

A financial statement showing the changes in the equity of a business entity over a period of time.

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenues.

  • Comprehend the importance and goal of financial records in disclosing business transactions.
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MJ
Merced JohnsonNov 16, 2024
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