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Which of the following would be the most practical method of verifying the approximate amount and terms of any personal lines of credit and personal
Which of the following would be the most practical method of verifying the approximate amount and terms of any personal lines of credit and personal loan listed on a business owner's personal financial statement? Request copies of the current account statements from the business. Compare the liabilities shown to information found in the borrower's tax return. Request a balance statement from each creditor and compare them with the liabilities shown. Compare the liabilities on the financial statement to those shown on a current credit report. Bookmark for review
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