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Insurance Expense
The cost incurred by a company to insure its assets, operations, or liabilities over a certain period.
Accounts Payable
Liabilities or amounts owed by a business to its suppliers or vendors for goods and services received.
Adjustment
Modifications made to book records in order to align them with the actual financial status or to reflect changes.
Current Asset
A category of assets that are likely to be converted into cash, sold, or consumed within one business cycle or one year.
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