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Accounts are classified in the ledger

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Solution 1

Accounts in a ledger are typically classified into five main categories:

  1. Assets: These are resources owned by a business that have economic value. Examples include cash, accounts receivable, inventory, and property.

  2. Liabilities: These are obligations that the business needs to pay in Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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