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Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-Multiculturalism
Unearned Fees
Income received by a company for services yet to be performed or goods to be delivered, recognized as a liability on the balance sheet until earned.
Current Liability
Obligations or debts that a company expects to settle within one fiscal year or the operating cycle, whichever is longer.
Balance Sheet
A report detailing a business's assets, liabilities, and owners' equity at a particular moment.
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle of a business.
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