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If a baby is born at 28 weeks' gestation, what major problem will the doctors look for?
Liabilities
Financial obligations or debts of a business that are due to be paid to creditors in the future.
Accounting Equation
The foundational principle in accounting that states assets equal liabilities plus shareholders' equity.
Profitable
Refers to a financial state where income exceeds expenses, resulting in a positive gain.
Accounting Equation
The foundation of double-entry bookkeeping, which asserts that assets equal the sum of liabilities and shareholders' equity.
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