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ACCOUNTING by yon on 03-15-2013
Basic terms used in accounting
Peter why do we have loss in a business?
When our expenses are more than gross profit .
Basic terms used in accounting
how do we determine the net worth of the business ?
Peter the net worth of the business is calculated as follows, Assets - Liabilities = onerner's Equity.
Good we are prepared fro the test
Sure and thanks for going over the basic of accounting with me
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