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Choose the correct statement: a budgeted Balance Sheet:
Chart of Accounts
A structured list of all accounts used by a business, organized by type, used for organizing financial transactions and preparing financial statements.
Expense Account
An account used to record the costs incurred by a business in the process of generating revenue, excluding direct materials and direct labor expenses.
Asset Account
An account on a company's balance sheet that represents the value of the assets owned.
Unearned Revenue
Unearned Revenue represents money received by a company for goods or services yet to be delivered or performed, considered a liability until the revenue is earned.
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