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Debits
Accounting entries that result in an increase in assets or expenses and a decrease in liabilities, equity, or income.
Credits
In accounting, credits are entries that decrease assets or increase liabilities and equity on a company's balance sheet.
Double-entry Bookkeeping System
A method of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account, ensuring the accounting equation is always in balance.
Fraud
A deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.
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