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Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2018, Holly Enterprises and Cat Stevens. Instructions
Determine the missing amounts.
Fireproof
A property or material that is resistant to or capable of withstanding damage from fire.
Insured
The individual or entity covered under an insurance policy and protected against specified risks or losses.
Just-In-Time
A management strategy that aligns raw-material orders from suppliers directly with production schedules to reduce inventory costs.
Insurable Interest
A stake or a legal right in the preservation of an item, person, or property that allows an individual or entity to obtain insurance coverage against loss or damage.
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