Income
Income is a money a business or individual earns from activities like sales, services, investments, or wages. For businesses, income usually refers to revenue, which is total earnings before expenses. Net income, or profit, is what remains after all expenses, taxes, and costs are deducted.
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Installment
Installment is a partial payment made on a schedule toward settling a larger debt or purchase. Installments break down the…
Interim Financial Statement
Financial reports prepared for a period shorter than a full fiscal year typically quarterly or monthly. They provide stakeholders with…
Internal Control
Policies and procedures designed to safeguard assets, ensure accurate financial reporting, and promote compliance with laws. Internal controls reduce the…
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