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What is the communication called

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Question 1: This item in the balance sheet represents the excess of assets over liabilities. What is this item?

Question 2: This communication is presented to the users on the credibility and fair representation of a set of financial reports. What is this communication called?

Question 3: An economic resource is a legal or contractual right that has the potential to produce economic benefits. What accounting element does this statement refer to?

Question 4: The transfer of assets, usually cash, is made by a business to its owners from its accumulated and retained profit. What does this statement refer to?

Reference no: EM132614216

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