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Explain the increasing use of groups and teams in U.S.businesses.
Accounts
Records that summarize financial transactions pertaining to a business entity’s assets, liabilities, equity, revenues, and expenses.
Increases and Decreases
Terms used to describe the upward and downward movements in financial and non-financial metrics within business operations.
T Account
The simplest form of an account.
Debit
An accounting entry that represents an increase in assets or expenses, or a decrease in liabilities, equity, or revenue.
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