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Which one of the following statements is true about an organization's balance sheet? The balance sheet summarizes revenues and expenses for an accounting period. The
Which one of the following statements is true about an organization's balance sheet? The balance sheet summarizes revenues and expenses for an accounting period. The balance sheet shows the financial position of a business on a specific date. e Total assets must equal total liabilities on the balance sheet. Total liabilities minus owners' equity equals total assets on the balance sheet
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