CONDENSED FINANCIAL STATEMENTS Definition

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CONDENSED FINANCIAL STATEMENTS are presented in considerably less detail than complete financial statements.

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NORMAL PROFIT is the opportunity cost of using entrepreneurial abilities in the production of a good, or the profit that could have been received by entrepreneurship in another business venture. Like the opportunity costs of other resources, normal profit is deducted from revenue to determine economic profit. It is, however, never included as an accounting cost when accounting profit is computed.

EQUITY CAPITAL is a form of financing where equity in a business is sold to private investors.

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