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In Accounting there are plenty of formulas, theories, and equations, but by far the most important is the following: Assets = Liabilities + Equity First, I will describe in layman’s terms the three variables within the equation above. An asset is a resource that will be used to operate a business (e.g. inventory, plant, machinery). A liability is a creditors right to the... read more

When Josh was 10 years old, his godfather bought him a $5000 CSB that earned simple interest. When josh turned 20 years old the CSB was worth $9000. At what rate did the CSB earn annual interest? anwser:...

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