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What have been especially appealing to smugglers the world over due to high taxes and tariffs and the relative ease of transportation?
Classified Balance Sheet
A balance sheet that groups together similar assets and liabilities, using several classifications and categories, to provide useful information to the users.
Deferred Expenses
Costs that are incurred but not expensed immediately and are carried on the balance sheet as an asset until recognized.
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business.
Accrued Taxes Payable
Liabilities for taxes that have been incurred but not yet paid.
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