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Topic: There are five categories that businesses use to classify accounts; assets, liabilities, equity, revenue, expense. If you were to stop and think from a

Topic: There are five categories that businesses use to classify accounts; assets, liabilities, equity, revenue, expense. If you were to stop and think from a personal perspective, you also have events, contracts, possessions, or activities that can be categorized into one of these five categories in your personal life. For example, I have a computer and I would classify that as an asset because it is something I have and it is an economic resource. You are to provide at least 3 examples in your life that would fit into one of the five categories above. Use a personal example and state how you would categorize (classify) it and why. Try NOT to post the same thing that all of your fellow classmates have.

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