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1. Which of the following would be found in the Current Assets part of the Balance Sheet?
Property, Plant and Equipment
2. Which of the following is not a feature of the Balance Sheet?
Represents financial position over a period of time
Three parts: Assets, Liabilities and Equity
Represents financial position at a point in time
3. What needs to balance in the Balance Sheet?
Total Assets = Total Equity
Total Assets = Total Liabilities + Total Equity
Total Assets = Total Liabilities
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