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The multicomponent model of working memory shows that
Unadjusted Trial Balance
A preliminary report listing all the accounts and their balances from the general ledger before any adjusting entries are made to prepare financial statements.
Contra Asset Account
An account on a company's balance sheet that reduces the total amount of the company's asset accounts.
Fixed Asset Accounts
Accounts used in accounting to track the purchase, depreciation, and disposal of fixed assets, which are long-term tangible assets.
Current Ratio
A financial ratio that measures a company's ability to cover its short-term liabilities with its short-term assets, calculated as current assets divided by current liabilities.
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