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When Simon says,"My hamster runned away," he is using
Sole Proprietorship
A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.
Drawing Account
An account used by sole proprietors or partners to record the money withdrawn from the business for personal use.
Capital Account
Refers to a financial statement that shows the changes in a company's equity during a specific period due to transactions with its owners, such as stock issuance and dividend payments.
Genuine Progress Indicator
An economic measure that includes well-being and sustainability, beyond just economic transactions.
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