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Imputation implies that it is Christ's actual righteousness that God counts on our behalf. Accounted means God counts something that is not yet a reality but will be. We are accounted righteous because to God the process is complete, but it is still a process for us. We still learn the ways of righteousness and as we walk we become righteous in fact. Of course, we'll never get there until the end.
This makes the work of Christ Jesus of no effect .... but turns Him merely into a role model
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