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Account Type
A classification used in accounting to differentiate various types of financial records, such as assets, liabilities, equity, revenues, and expenses.
Profitable
A financial condition where income exceeds expenses resulting in a net gain.
Accounting Equation
The fundamental formula in accounting that states that assets equal liabilities plus equity.
Stockholders' Equity
The residual interest in the assets of a corporation after deducting liabilities, representing owners' claims on the business.
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