what do mean by account??
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"An account is a record in an accounting system that tracks the financial activities of a specific asset, liability, equity, revenue, or expense. ... Each individual account is stored in the general ledger and used to prepare the financial statements at the end of an accounting period."
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hope it's helpful :)
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Explanation:
somebody's report or description of something that has happened.the arrangement by which a bank looks after your money for you.
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