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Land Sale
A transaction involving the conveyance of ownership in land from one party to another, often recorded as a capital transaction in financial statements.
Operating Income
This is the profit realized from a business's ongoing operations, calculated as the difference between operating revenues and operating expenses.
Land Account
A type of asset account on the balance sheet representing the cost of land owned by a company.
Accounts Payable
Liabilities of a business that are due to be paid to creditors within a short period of time, typically one year.
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