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Trial Balance
A bookkeeping worksheet listing the balances of all ledgers in two columns, debits and credits, to verify that the total debits equal total credits.
Income Statement
A financial document that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and profit.
Ledger
A book or collection of accounts in which transactions are recorded, categorized, and summarized.
Owner's Equity
The residual interest in the assets of a company after deducting liabilities, representing the ownership value in the company.