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Define and describe Arthur Lewis's theory of surplus labour.
Assets
Resources owned or controlled by a business, expected to produce future economic benefits.
Owner's Equity Statement
A financial statement showing the changes in the equity of a business entity over a period of time.
Revenues
The income generated from normal business operations and includes discounts and deductions for returned merchandise.
Net Income
The total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenues.
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