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Compare the impact of the industrial revolution in China and Great Britain. Why did Great Britain move toward industrialization while China did not?
Fiscal Year
A one-year period used for financial reporting and budgeting, not necessarily aligning with the calendar year.
Ledger
A book or collection of accounts in which transactions are recorded, showing the changes in each account over a period of time.
Inventory
The complete list of goods and materials that a business holds, either for sale or as part of its supply chain.
Accounting Equation
The fundamental principle of accounting represented as Assets = Liabilities + Shareholder's Equity, ensuring that a company's balance sheet is balanced.
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