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1. Account Classifications 1. Assets 2. Liabilities 3 Stockholders' equity Dividends 5. Revenues 6. Expenses Descriptions a. Amounts earned from sales of products or services

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1. Account Classifications 1. Assets 2. Liabilities 3 Stockholders' equity Dividends 5. Revenues 6. Expenses Descriptions a. Amounts earned from sales of products or services b. Owners' claims to resources c. Distributions to stockholders. d. Costs of selling products or services. c. Resources owned 1. Amounts owed

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