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Which color of the visible spectrum has the highest frequency and the shortest wavelength?
Owner's Equity
The residual interest in the assets of the entity after deducting liabilities, representing the ownership's claim on the company assets.
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.
Double-Entry Accounting
A system of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account.
Debits
Accounting entries that represent an increase in assets or expenses or a decrease in liabilities, equity, or revenue.
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