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Which of the following is True of traditional database application programs?
Comparative Financial Statements
Financial statements that present financial information for different periods or dates side by side to facilitate comparison.
Corporations
Are legal entities that are separate and distinct from their owners. They have the ability to enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.
Vertical Analysis
A method of financial statement analysis in which each entry is listed as a percentage of another item, typically used for income statements where entries are compared to total sales.
Total Assets
The sum of all resources owned by a company, valued according to accounting principles, including both current and non-current assets.
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