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income account

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noun
an account maintained for a particular item of revenue or income.
Also called profit and loss account. a summary account for income and expenditures, used in closing the ledger.
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“Was” is used for the indicative past tense of “to be,” and “were” is only used for the subjunctive past tense.

Origin of income account

First recorded in 1865–70
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

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