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1. What financial report shows the total value of the company assets at a point in time?
The Balance Sheet.
The Return on Investment Report.
The Earnings Statement.
2. Which set of accounts are all current assets?
Cash, Securities (stocks and bonds), and Inventory.
Cash, Credit Card, and Facilities.
Cash, Account Receivable, and Accounts Payable.
3. If your company buys a new delivery truck, what account on the Balance Sheet would show that purchase?
The Accounts Payable category of current Liabilities.
The Equipment category of Fixed Assets.
The Operating Expense category.
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