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Book of Original Entry
A preliminary accounting record where transactions are first recorded; also known as a journal.
Chart of Accounts
An organized list of all the accounts used in a company's general ledger, categorized into assets, liabilities, equity, revenues, and expenses.
Ledger
A comprehensive collection of accounts where financial transactions are recorded, categorized, and summarized; an essential part of the accounting system.
Accounting Information System
A system used by businesses to collect, store, manage, process, retrieve, and report financial data for the purpose of informed decision-making.
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