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What three events should occur in order for an engine to start running properly?
Return on Total Assets
A profitability ratio that measures the net income produced by the total assets of a company during a period, indicating how efficiently a company uses its assets to generate earnings.
Long-term Investment Transactions
Long-term Investment Transactions involve the buying or selling of investments, such as stocks, bonds, or real estate, intended to be held for a period longer than a year for capital gains or investment income.
Journal Entries
Recorded transactions in the accounting books of a business, capturing all the financial activities and their effects on the company's financial position.
Operating Cycle
The period of time it takes for a company to purchase inventory, sell it to customers, and collect the cash from the sale.
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