When using the fundamental accounting equation,an accountant must make sure that total assets are always equal to total liabilities and owner's equity.
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Q1: A business transaction is a financial event
Q4: If the owner takes cash out of
Q5: The statement of owner's equity is prepared
Q9: A double line drawn under the figures
Q10: Withdrawals by the owner are reported on
Q12: The income statement is also known as
Q13: Al Dunn Bakery bought a new oven
Q15: A withdrawal of funds by the owner
Q19: The amount of net income or net
Q79: The property that a business owns is
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