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Which of the following statements concerning the balance sheet is TRUE? O a. Assets are listed in descending order of liquidity. O b. A balance

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Which of the following statements concerning the balance sheet is TRUE? O a. Assets are listed in descending order of liquidity. O b. A balance sheet summarizes a firm's accounting value over a period of time. O C. Changes in depreciation expense do not affect a firm's cash position. O d. Shareholders' equity is equal to net working capital minus net fixed assets plus long-term debt

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