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Electronic Conveniences
Tools and services provided digitally that simplify tasks and transactions, often making daily activities more efficient through technology.
Financial Statement
A proper journal that captures the flow of financial transactions and the economic positioning of an entity, whether a business, an individual, or another type.
Normal Balance
The side of an account (debit or credit) that increases its value; for example, assets and expenses have normal debit balances, while liabilities and revenues have credit balances.
Permanent/Temporary
Describes accounts or records in accounting that either carry their balances over across accounting periods (permanent) or are closed and zeroed out at the end of each period (temporary).
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