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Balance sheet is a document which gives you the complete and accurate information of the assets which a company owns and also summarizes the information of the liabilities All the assets either they are long term assets or current or short term are listed in balance sheet format so
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The Chart of Accounts is normally arranged or grouped by the Major Types of Accounts The Balance Sheet Accounts Assets Liabilities Equity are presented first followed by the Income Statement Accounts Revenues Expenses Here were going to discuss the Balance Sheet Portion of the Chart Of Accounts and how its organized
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