Solved: Balance sheet of a business entity, Finance Basics

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Balance sheet of a business entity

Question 1: Explain the effect of operating profitably on the balance sheet of a business entity.

Question 2: Does the receipt of cash by a business indicate that revenue has been earned?

Question 3: Does the payment of cash by a business indicate that an expense has been incurred?

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Finance Basics: Balance sheet of a business entity

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Finance Basics: Balance sheet of a business entity

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