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is defined as anything an individual or business owns t
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
Identifying trends in the industry is the purpose of the __
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
Net worth is
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
Controlling expenses is important in accounting because of good record keeping
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
The accounting cycle has __ parts
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
The value of the borrower's possessions, including money and property owned
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
Being accurate and up to date is important component in accounting
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
This statement covers 6 months or a year of revenue, expenses and net income or loss from operations
6
government
income statement
capital
It is the value of a person’s assets minus the amount of their liabilities
True
Assets
True
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