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This statement covers 6 months or a year of revenue, expenses and net income or loss from operations
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
is defined as anything an individual or business owns t
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
The first step in the accounting cycle is
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
Learning how to keep records of a business is called
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
The equation for accounting is
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
The value of the borrower's possessions, including money and property owned
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
Net worth is defined as the difference between a person's assets an liabilities
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
Net worth is
analyze
Assets
income statement
capital
accounting
True
Accounting=Liabilities + Equity
It is the value of a person’s assets minus the amount of their liabilities
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