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Double-Entry System
A fundamental principle of accounting that requires every financial transaction to be recorded in at least two accounts: one debit and one credit, ensuring the accounting equation is always balanced.
T Account
A visual representation used in accounting to depict the debit and credit sides of an account for easy visualization and analysis.
T Account
A visual representation used in accounting to show the effect of transactions on the balance of accounts, featuring a T-shaped format.
Debit Balance
A financial account balance where debits are greater than credits.
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