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Accounting Principles and Formulas Questions With Verified Answers | UPDATED
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Accounting Principles and Formulas Questions With Verified Answers | UPDATED Basic Accounting Equation - ANSWER Assets = Liabilities + Owner's Equity Business Entity - ANSWER The financial statements report about a single business. Every business gets its own set of books. Accountants do not mix in the owner's personal financial information. Current - ANSWER "Current" liabilities are those debts that must be paid within one year or one operating cycle, whichever is longer. Current Ratio - ANSWER Current Assets/Current Liabilities = Current Ratio Debt Ratio - ANSWER Total Liabilities/Total Assets = Debt Ratio Alternate Debt Ratio - ANSWER 100% - Equity Ratio = Debt Ratio
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Accounting Principles And Formulas
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Accounting Principles and Formulas
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accounting principles and formulas
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accounting principles and formulas questions with
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