Examlex
Identify the following bur shape.
Debit
An entry recorded on the left side of an account ledger, representing an increase in assets or expenses or a decrease in liabilities, equity, or revenue.
Credit
An accounting entry that increases a liability or equity account or decreases an asset or expense account.
Balance Sheet Accounts
Accounts that reflect the assets, liabilities, and shareholders' equity of a company at a particular point in time.
Real Accounts
Accounts related to assets, liabilities, and equity that are not closed at the end of the accounting period, as opposed to nominal accounts.
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