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Chart of Accounts
The Chart of Accounts is a systematic list of all accounts used by an organization, essential for classifying and organizing financial transactions within the general ledger.
Expense Account
An account where costs associated with the operations of a business, such as rent, utilities, and salaries, are recorded.
Asset Account
An account that represents a tangible or intangible item of value owned by a company, such as cash, inventory, or equipment.
Revenue Account
An account that records the income earned from normal business operations, such as sales of goods or services.
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