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Balance Sheet Accounts
These are financial accounts that show the assets, liabilities, and owner's equity of a company at a specific point in time.
Permanent Accounts
These are ledger accounts that carry their ending balances into the next accounting period, typically including asset, liability, and equity accounts.
Temporary
In accounting, temporary refers to accounts that are closed at the end of an accounting period, such as revenues, expenses, and dividends.
Forthcoming Year
The approaching or upcoming calendar year.
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