REAL ACCOUNTS Definition

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REAL ACCOUNTS, also called permanent accounts, are the accounts; asset, liability, reserve and capital; whose balances are not canceled out at the end of an accounting period, but are carried over to the next period. These accounts appear on the post-closing trial balance and the statement of condition (balance sheet).

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VENTURE is an investment that is very risky but could yield great profits.

COST REDUCTION is actions taken in the present designed to decrease costs in the present. See COST AVOIDANCE.

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