题目内容
No matter what kinds of transactions are made, the accounting equation remains in balance if the transactions are properly recorded.
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The three types of assets-current, fixed, and intangibles-are listed in order of the importance which the company attaches to its operation.
Of the various kinds of assets, only land does not depreciate.
Goodwill is a kind of intangible asset, therefore should be entered in the balance sheet.
When a company goes out of business, the claims of long-term creditors are normally paid before those of the owners.
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