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Balance Sheet
It's a record that shows a firm's holdings, obligations, and the equity of its shareholders at a given time.
Income Statement
A financial statement that shows a company's revenues and expenses over a specific period of time, culminating in net income or loss.
Cash Basis
An accounting method where revenue and expenses are recognized only when cash is received or paid out, respectively.
Receivables
Money owed to a company by its customers or clients for goods or services provided that have not yet been paid for.
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