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If a home office is used for both business and personal purposes, the home office expenses, such as rent or depreciation, should be allocated between the business and personal use and then deducted.
Assets
Resources owned or controlled by a business or individual that have expected future economic benefit.
Equity
The value of an owner's interest in a company, calculated as the difference between the assets and liabilities on a company's balance sheet.
Cash Inflows
The total amount of money being received by a company, from operations, investments, and financing activities.
Operating Activities
Transactions and events that affect the net income of a business.
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