Liabilities are usually listed in order of magnitude,from smallest dollar amount to largest dollar amount.
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Q1: Total assets must always equal total liabilities
Q3: The accounting equation may be stated as
Q4: If a company purchases equipment by issuing
Q5: The purchase of an asset,such as office
Q6: The practice of showing assets on the
Q7: The entity principle states that the affairs
Q8: Notes payable and accounts payable both require
Q9: If a company purchases equipment with cash,its
Q10: The collection of an account receivable will
Q11: The balance sheet shows assets,liabilities,and equity,as an
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