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4.2 a. What is the accounting identity? b. What is the implication of the accounting identity for the numbers on a balance sheet? c. What

4.2 a. What is the accounting identity?

b. What is the implication of the accounting identity for the numbers on a balance sheet?

c. What does the accounting identity tell us about a businesss equity?

*** c. How does depreciation expense in the income statement relate to accumulated depreciation on the balance sheet?

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