Examlex
Divide.
Plant Assets
Long-term tangible assets that are used in the operation of a business and are subject to depreciation, excluding land.
Unclassified Balance Sheet
A simplified financial statement that presents assets, liabilities, and equity without categorizing them into further subdivisions.
Classified Balance Sheet
A financial statement that segregates assets and liabilities into current and non-current categories, providing a detailed snapshot of a company's financial condition at a specific time.
Permanent Accounts
Permanent accounts are those ledger accounts whose balances are carried over from one accounting period to the next, including assets, liabilities, and equity accounts.
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