Examlex
Simplify. Your answer should be in lowest terms.
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Account
A record that keeps track of financial transactions of a specific type or for a specific purpose within an organization.
General Ledger
A comprehensive record of all financial transactions that occur within a company, serving as the primary data source for the financial statements.
Financial Statements
Structured reports that detail the financial activities and conditions of a business, including balance sheet, income statement, and cash flow statement.
Balance Sheet Accounts
Accounts displayed on the balance sheet that represent the company's assets, liabilities, and ownership equity at a specific point in time.
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