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Question 1: When taking any personal finance classes, it more than likely to hear and be warned about keeping out of debt. For instance, Proverbs 22:7 says, "The rich rules over the poor, and the borrower is servant to the lender." Yet, from an accounting perspective, the balance sheet incorporates liabilities (debts) and is part of the accounting equation. If running a business according to godly principles, how could you balance this with the idea of borrowing money to start a business or to grow a business?
Financial Statement Analysis and Preparation
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