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10 cards from this deck
People or groups with interest in the business
Income Statement and Balance Sheet
Financial performance over a period of time
Financial position at a specific point in time
Total income is greater than total expenses
Total expenses exceed total income
A=OE+LA = OE + LA=OE+L (Assets = Owner's Equity + Liabilities)
Primary income from providing services to customers
Reduction in asset value over time due to wear and tear
Total from all operating activities before deducting expenses
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