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- Residual interest in the asset of an entity that remains after deducting its liabilities is? a. Liabilities b. Expense c. Owner’s Equity d. AssetsA(n) is a contract for the use of an asset for a period of time without having to buy the asset. Oa. indenture Ob. revenue option Oc. lease Od. depreciation hedgeProvide answer
- Give me AnswerThe difference between the balance of a fixed asset account and the related accumulated depreciation account is termed: A. book value B. contra asset C. liability D. market value book valueIn an operating lease, rent collected in advance by the lessor should be treated as? prepaid expense accrued liability accrued asset unearned income