In order to possess future service potential an asset must have physical substance.
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Q22: Owners' claims to total business assets take
Q23: The basic accounting equation is in balance
Q24: In the owner's equity statement revenues are
Q25: The monetary unit assumption requires that all
Q26: At the time an asset is acquired
Q28: Management consulting includes examining the financial statements
Q29: The primary purpose of the statement of
Q30: Expressing an opinion as to the fairness
Q31: The study of accounting will be useful
Q32: The purchase of office equipment on credit
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