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Before filing for bankruptcy, a person must go through credit counseling.
Outstanding Checks
Checks that have been issued by a company but have not yet been cashed or cleared by the bank.
Petty Cash
A small amount of cash on hand used for minor or incidental expenses within a business.
Normal Balance
The side (debit or credit) of an account that is expected to have a greater balance based on standard accounting practices.
Asset
Resources owned or controlled by a business or individual that are expected to produce economic value or future benefits.
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