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- Here are some accounting terms that are commonly used12:
- Accounts payable: Money owed by a company to its creditors.
- Accounts receivable: Amounts due from customers.
- Balance sheet: A financial statement that shows a company's financial position at a specific point in time.
- Bookkeeping: The process of recording financial transactions.
- Income statement: A financial statement that shows a company's revenues and expenses over a period of time.
- General terms: Terms that are commonly used in accounting.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Money owed by a company to its creditors. Amounts due for payment to suppliers of goods or services. Accounts receivable Amounts due from customers. Accounts Financial statements prepared at the end of a period reflecting the profit or loss of the period and financial position at the end of the period.www.bluerocketaccounting.com/news/an-a-to-z-of-…We have assembled some of the most important accounting terms to provide you a good start in navigating the accounting realm. Below you will find some of the most common accounting terms divided by these categories: balance sheet, income statement, bookkeeping terms, business structures, people, and general terms.bestaccountingsoftware.com/accounting-terms/ Accounting Terms: A to Z Glossary - Coursera
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