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Author Question: What is the difference between current assets and fixed assets? What will be an ideal ... (Read 58 times)

tth

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on: Jul 26, 2018
What is the difference between current assets and fixed assets?
 
  What will be an ideal response?

Question 2

How is a balance sheet organized and what is it used for?
 
  What will be an ideal response?


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at

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Reply #1 on: Jul 26, 2018
Answer to Question 1

Current assets are non-depreciable assets, such as cash, accounts receivable, and inventory. Fixed assets are depreciable assets that will be retained for longer than one year.

Answer to Question 2

A balance sheet is used to show the company assets, company liabilities, and owners' equity on a specific date. The owners' equity is determined by subtracting the company's liabilities from its assets.


tth

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Reply 2 on: Jul 26, 2018
Great answer, keep it coming :)

jackie

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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