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What is the significance of activation energy?
Liability Account
A type of financial account which represents a company's legal debts or obligations that arise during the course of business operations.
Expense Account
An account used in accounting to track expenditures related to the operation of a business, including costs for goods, services, and operational activities.
Adjusting Journal Entries
Entries in accounting made during the close of a financial period, aiming to accurately allocate profits and expenditures to their respective periods of occurrence.
Net Income
A company's overall earnings following the deduction of all expenses and taxes from its total revenue.
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