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2
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Amounts owed by a business
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3
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An equation showing the relationship among assets, liabilities, and owner’s equity
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4
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A financial statement showing the revenue and expenses for a fiscal period
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5
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The amount remaining after the value of all liabilities is subtracted from all assets
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6
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The difference between total revenue and total expenses when total revenue is greater
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7
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A financial statement that reports assets, liabilities and owner’s equity on a specific date
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8
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Comparisons between two items of financial information
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9
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An increase in owner’s equity resulting from the operation of the business
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10
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Anything of value that is owned
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