Liabilities could include bank loans and current payments owed to suppliers.
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Q26: Net income is the difference between the
Q27: Balance sheets only reflect the assets and
Q28: The statement of retained earnings shows how
Q29: A company's balance sheet will "balance" even
Q30: According to the accounting equation, Assets -
Q32: A balance sheet is a financial statement
Q33: Expenses are listed on the left side
Q34: The statement of cash flows shows the
Q36: An income statement is the financial statement
Q85: Revenue, expenses, and net income are the
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