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Please answer both questions in complete sentences Provide three different examples of either asserts or liabilities. Also, how do assets and liabilities apply to your personal life?
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Please answer both questions in complete sentences

Provide three different examples of either asserts or liabilities.
Also, how do assets and liabilities apply to your personal life?

User Jkgeyti
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Answer:

Number 1 question: payroll taxes

income taxes

wages

short term loans

outstanding expenses

Number 2 question:

In its simplest form, your balance sheet can be divided into two categories: assets and liabilities. Assets are the items your company owns that can provide future economic benefit. Liabilities are what you owe other parties. In short, assets put money in your pocket, and liabilities take money out!

Step-by-step explanation:

User Avf
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