What is the current ratio called if the inventory is removed from the numerator?

2. What is the expanded accounting equation and how does it tie in the Balance Sheet and the Income statement?

3. What are LIFO and FIFO and how do they relate to two different sets of books?

4. What are the key benefits to corporate organization?

5. How does financial leverage help on the upside and hurt on the downside? Please explain your answer.

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