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Question (a) Write concise explanatory notes on the following concepts/terms
(i) profitability
(ii) assets
(iii) liquidity
(iv) owners equity
(v) accounting cycle
Have they approached topics differently than you? Have they identified knowledge you may have overlooked? Were there any key takeaways?
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Frank Smith has been a plumber in the college town of Turlock, CA for the last thirty years. All the people who know him call him Frankie because he is friendly, social, and charges a fair price for his services. Explain why limited leverage is good ..
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