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Know the difference between a long-term and short-term Liability. Definition??? What is a contingent Liability? Know the Times Interest Earned ratio. If you sign a

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Know the difference between a long-term and short-term Liability. Definition??? What is a contingent Liability? Know the Times Interest Earned ratio. If you sign a note on Dec 1st, what is the interest accrued on Dec 31st? You are given principle, interest rate, and time for this one. You have to figure out how much interest just for 1 month

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