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Define the following based in own understanding 1. Assets 2. Liabilities 3. Capital 4. Current Assets 5. Non-current Assets 6. Current Liabilities 7. Non-current Liabilities

Define the following based in own understanding

1. Assets

2. Liabilities

3. Capital

4. Current Assets

5. Non-current Assets

6. Current Liabilities

7. Non-current Liabilities

8. Operating cycle

9. Cash equivalent

10. Negotiable instrument

11.Discuss what is the importance of Balance Sheet?

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