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According to the text, which of the following is NOT a major phase in the family life cycle?
Revenue Accounts
Accounts used to record the income generated from the sale of goods or services in the normal course of business.
Expense Accounts
Accounts in financial accounting that track the costs of operating a business, including costs for materials, labor, and overhead.
Permanent Accounts
These are balance sheet accounts whose balances are carried forward from one accounting period to the next, including assets, liabilities, and equity accounts.
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