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Which is true of infant vision?
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.
Credit
A contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date, typically with interest.
Income Statement Columns
The sections or divisions in an income statement that segregate information, such as revenues, expenses, and net income, for analysis.
Revenue And Expense
Key components of a profit-oriented organization's income statement, where revenue represents the total income earned and expense represents the cost incurred to earn that income.
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