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Please answer under 40 minutes! I need to answer. Question 1 (a) Let's say you made a mistake and overestimated the value of breeding livestock

Please answer under 40 minutes! I need to answer. Question 1 (a)

Let's say you made a mistake and overestimated the value of breeding livestock by $15,000. How would this affect liquidity? Solvency?

Question 1 (b) (3 points)

Why do we use depreciation instead of principal payments as an expense against income?

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