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Which of the following transformations is a chemical reaction?
Liability Accounts
Accounts that represent amounts owed to others, including loans, accounts payable, and mortgages.
Depreciation
The process of allocating the cost of a tangible asset over its useful life, recognizing the consumption, wear and tear, or obsolescence of physical or fixed assets used in operations.
Tax Return
A form filed with a government body declaring liability for taxation, containing details of income earned and taxes owed.
Financial Statement
A formal record of the financial activities and position of a business, person, or other entity, often including a profit and loss statement, balance sheet, and cash flow statement.
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