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Income Statement
A financial statement that shows a company's revenues, expenses, and profits over a specific period of time.
Balance Sheet
A financial statement that presents a company's financial position at a specific point in time, showing assets, liabilities, and equity.
Trial Balance
An informal listing of the ledger accounts and their balances in the ledger to aid in proving the equality of debits and credits.
Cost Center
A department within a company where costs can be allocated, but which does not directly generate revenue.
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