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Question 1 (1 point) The equation that governs the Income Statement (or P&L) is: A minus A equals Profit or Loss Question 2 (1 point)

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Question 1 (1 point) The equation that governs the Income Statement (or P&L) is: A minus A equals Profit or Loss Question 2 (1 point) The Basic Accounting Equation governs the Balance Sheet and is: A equals A plus A

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