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What is the MOST popular way to accomplish gatekeeping?
Beginning Equity
The value of an owner's interest in a company at the start of the accounting period.
Ending Equity
The value of an owner's interest in a company after all liabilities have been subtracted from the company’s assets at the end of an accounting period.
Accounts
Financial records that track the transactions related to a specific asset, liability, equity, revenue, or expense. These are fundamental components of the accounting system used to compile financial statements.
Accounting Equation
The foundational equation in accounting, Assets = Liabilities + Equity, representing the relationship between a company's resources and claims on those resources.
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