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Figure 1.1
Identify the levels of organization in the figure above.
-Label E: ______________________________
Right Side
In accounting, refers to the credit side of a ledger account, opposite to the left or debit side, showcasing the sources of funds or increases in liabilities or equity.
Decrease Side
The side of an accounting equation or ledger where decreases in assets, expenses, or dividends are recorded, often the credit side for assets and the debit side for liabilities and equity.
Asset Account
A category within the general ledger that reports the value of a company's assets such as cash, equipment, and property.
Liability Account
An accounting record that reports the amounts a company owes to creditors and other parties, often categorized as current or long-term.
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