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Liabilities
Financial obligations a company owes to outside parties, such as loans, accounts payable, and mortgages.
Assets
Company-owned valuables that offer economic benefits and are expected to provide future profit.
Revenue
The total amount of money received by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.
Accounting Equation
The fundamental equation of double-entry bookkeeping: Assets = Liabilities + Equity.
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