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Equipment
Items of property intended for long-term use in the operation of a business, such as machinery and furniture.
Liability Account
An account representing an obligation or amount owed by a business to others, such as loans, accounts payable, or mortgages.
Revenue Account
An account that tracks the income a company generates from its operations or activities.
Chart of Accounts
Chart of Accounts is an organized list of all accounts in a business entity’s financial statements, used for categorizing all financial transactions.
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