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In the Lighthouse Model,
General Ledger
The General Ledger is the primary accounting record of a company that contains all the accounts needed to prepare financial statements, tracking all transactions.
Revenue Account
An account in the general ledger that records the income earned by a company, from sales or services, before any deductions.
Net Loss
Occurs when a company's total expenses exceed its total revenues during a specific period, indicating negative profitability.
Revenue Accounts
Accounts that track the income earned from the sale of products or services.
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