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Liabilities
Liabilities are financial obligations or debts that a company owes to others, to be settled over time through the transfer of economic benefits including money, goods, or services.
Owner's Equity
The total value that the owners or shareholders have invested in a company minus any liabilities.
Balance Sheet
A financial statement that shows a company's financial position at a specific point in time by detailing assets, liabilities, and owner's equity.
Cash
Money in the form of coins or banknotes, typically used for transactions.
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