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QUESTION 1 What is Inventory? ANSWER ALL THE QUESTIONS QUESTION 2 List three advantages of subsidiary journals. QUESTION 3 For balance sheet purposes we distinguish

QUESTION 1 What is Inventory? ANSWER ALL THE QUESTIONS QUESTION 2 List three advantages of subsidiary journals. QUESTION 3 For balance sheet purposes we distinguish between a non-current liability and a current liability. Define these liabilities and give an example of each.

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