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Loss or Gain
The financial result from business transactions, investments or other financial events, indicating a profit (gain) or a deficit (loss).
Realization Account
An account used in the process of dissolving a partnership or corporation, where the assets are converted into cash and liabilities are paid off.
Post-closing Account Balances
The balances of all ledger accounts after adjusting entries have been made and temporary accounts have been closed out at the end of an accounting period.
Non-cash Assets
Assets that are not in the form of cash or cannot be easily converted into cash, such as property, plant, and equipment.
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