Personal Finance (MindTap Course List)
Personal Finance (MindTap Course List)
13th Edition
ISBN: 9781337099752
Author: E. Thomas Garman, Raymond Forgue
Publisher: Cengage Learning
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Chapter 3.2, Problem 3CC
Summary Introduction

To Explain: Assets and liabilities valued for the balance sheet.

Concept Introduction:

Balance sheet is a statement of the company that shows the financial position of the company and it includes assets and liabilities. Assets are the resources of the company and liabilities are the companies’ obligations which have to be paid in future.

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