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Discuss the hierarchy of effects.
Asset Account
An account that records the assets owned by a company, showing their value on the balance sheet.
Cash Balance
The amount of cash or cash equivalents a company or individual possesses at any given time.
Disbursements
The act of paying out or distributing money, often by a business for various expenses.
Equipment Account
An account that tracks the cost of equipment a company owns, minus any accumulated depreciation.
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