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Who said,"The whole of science is nothing more than the refinement of everyday thinking"?
Overstated
A situation where financial figures are reported to be higher than they actually are, leading to a misrepresentation of a company's financial health.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the accounts.
Ledger
A comprehensive collection of all accounts and transactions of a company or individual, recorded in a systematic manner.
Account Balance
The amount of money in a financial repository at any given moment, which can fluctuate with deposits, withdrawals, and interest payments.
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