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Explain the logic behind Ricardian equivalence.
Equipment
Tangible assets used in the operation of a business that have a useful life beyond a single reporting period.
Supplies
Items used in the operation of a business that are consumed or exhausted over time.
Accounts
Recordings within an accounting system that track financial transactions and their effects on specific assets, liabilities, equity, revenues, and expenses.
Balances
Refers to the amount of money in a financial account, the difference between debit and credit totals in an account, or the amount remaining unpaid on a debt.
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