Define the Following

question 1

Essay

Define the following
-Inclusive language

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Definitions:

Payoff

The act of completely repaying a loan, including the principal amount and any accrued interest, thereby fulfilling the borrower's obligations.

Sale

The act of selling goods or services in exchange for money or other compensation, constituting a fundamental business activity.

Accounting Equation

The fundamental formula representing the relationship between a company's assets, liabilities, and owners' equity (Assets = Liabilities + Equity).

Total Assets

The total value of everything a company owns, including both current and non-current assets, used in its operations to generate revenue.