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Expenses
Outflows or other uses of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major operations.
Formal Account
An organized financial record of transactions over a period for an individual, company, or entity, maintained in a structured format.
Standard Account Form
A uniform format for presenting accounting information, typically including assets, liabilities, and equity sections.
Ledger
A book or digital record used to track all financial transactions and balances for a company's accounts.
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