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