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Rustler
Level 15

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In reality there are only 4 types of accounts in accounting. Income and expense for the P&L, and assets and liability for the balance sheet (yes equity is a liability in reality)

How you use those accounts and the adjective you put in front of them make a difference. Add fixed to asset and you get an account that is specifically for long term assets, but it is still an asset account.

Detail type is an intuit invention that was supposed to make things easier, but in fact has over complicated what is actually pretty simple.

To answer your question, who knows, and why care anyway.

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