Examlex
Match each term with the correct statement below.
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Credit Customer
A customer who purchases goods or services on credit, paying for them at a later date.
Asset Account
An account that records tangible or intangible items owned by a business which have value.
Liability Account
An accounting record that captures the amounts a company owes to creditors or other parties, reflecting the company's future obligations.
General Ledger
The comprehensive set of accounts that summarizes all transactions occurring within an organization, serving as the foundation for financial reporting.
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