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Acquired goodwill is shown on the balance sheet. True False Question 12 (2 points) A business can have more assets than obligations. True False Question

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Acquired goodwill is shown on the balance sheet. True False Question 12 (2 points) A business can have more assets than obligations. True False Question 13 (2 points) In the US, 'income' can sometimes mean 'equity'. True False Question 14 (2 points) Equity is an obligation to owners. True False

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