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9) If a firm has assets of $1 million, which of the following statements is true? a. Liabilities cannot exceed $1 million b. The value

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9) If a firm has assets of $1 million, which of the following statements is true? a. Liabilities cannot exceed $1 million b. The value of the firm cannot exceed $1 million / Owners' Equity cannot exceed $1 million d. Liabilities must exceed Owners' Equity

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