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TEXES BUSINESS AND FINANCE 6- 12 (276) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

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TEXES BUSINESS AND FINANCE 6- 12 (276) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Assets - Answer -something that has or produces value and is owned. Liquidity - Answer -How easily an asset can be bought or sold on the market at the same price Equity - Answer -Shows what the owner has contributed in addition to the retained earnings Depreciation - Answer -How things lose value as time goes on. Cash flow - Answer -Actual cash that is going in and out of a business such as revenues or expenses due to business activities. GAAP - Answer -Generally Accepted Accounting Principles Generally Accepted Accounting Principles (GAAP) - Answer -Provide a set of standards for how accounti

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