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Acids produce an excess of H⁺ ions.
Owner's Equity Statement
A financial document showing the changes in the value of a business owner's equity over a period of time.
Balance Sheet
A financial statement that provides a snapshot of a company's financial condition at a specific point in time, listing assets, liabilities, and shareholders' equity.
Income Statement
A financial document that outlines a company's revenues, expenses, and profits over a specified period, demonstrating its financial performance.
Expenses
Costs incurred in the process of earning revenue, which are subtracted from revenues to calculate net income.
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