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Balance Sheet
A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time, offering a snapshot of its financial position.
Sales On Account
Transactions where goods or services are sold and payment is deferred to a future date, effectively allowing the buyer to purchase on credit.
Cost Of Goods Sold
The total cost directly associated with producing goods sold by a business, including materials, labor, and manufacturing overhead.
Working Capital
The amount of operational liquidity available to a business, calculated as current assets minus current liabilities.
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