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What are the two ways you can view a table?
Normal Balance
The side (debit or credit) of an account that is typically increased.
Financial Statement
A documented account of financial transactions and standing for businesses, individuals, or alternative entities.
Permanent/Temporary
Terms distinguishing between accounts that are not closed out or reset at the end of the accounting year (permanent accounts) and those that are (temporary accounts).
Normal Balance
The standard side (debit or credit) on which increases to an account are recorded.
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