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Which statement is true?
Equipment
Tangible property used in the operation of a business that is not intended for sale, typically having a useful life longer than one year.
Credit Side
The right side of a financial ledger, where increases in liabilities, equity, and revenue, and decreases in assets and expenses are recorded.
Chart Of Accounts
A numbering system of accounts that lists the account titles and account numbers to be used by a company.
Account Balance
The difference between the debits and credits recorded in an account, representing the net value at a point in time.
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