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#cfa-level-1 #reading-23-financial-reporting-mechanics
Question
Certain accounts are used to [...] other accounts
Answer
offset

Tags
#cfa-level-1 #reading-23-financial-reporting-mechanics
Question
Certain accounts are used to [...] other accounts
Answer
?

Tags
#cfa-level-1 #reading-23-financial-reporting-mechanics
Question
Certain accounts are used to [...] other accounts
Answer
offset
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Certain accounts are used to offset other accounts

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3.1. Financial Statement Elements and Accounts
ncial statements. The actual accounts used in a company’s accounting system will be set forth in a chart of accounts . Generally, the chart of accounts is far more detailed than the information presented in financial statements. <span>Certain accounts are used to offset other accounts. For example, a common asset account is accounts receivable, also known as “trade accounts receivable” or “trade receivables.” A company uses this account to record the amounts it is ow

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