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Lifetime Operations
The entire period during which an entity or project is expected to operate or function, from inception to completion or cessation.
Adjusted Trial Balance
A compilation of all accounts along with their balances, updated after adjustment entries, which is utilized for the creation of financial reports.
Balance Sheet Account
An account reported on the balance sheet that includes assets, liabilities, and shareholders' equity at a specific point in time.
Income Statement Account
Accounts that participate in the composition of the income statement, including revenues, expenses, gains, and losses.
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