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Question 7 (5%) a) Prepare a simple balance sheet for a bank. b) List 3 assets, 3 Liabilities and 3 Equities. c) Explain each of

Question 7 (5%)

a) Prepare a simple balance sheet for a bank.

b) List 3 assets, 3 Liabilities and 3 Equities.

c) Explain each of the items you listed under asset, liabilities and equity and provide details of why it is considered to be under different category.

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