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Figure 2-9
-What happens when 2 variables have a negative correlation?
IRS
The Internal Revenue Service, the U.S. federal agency responsible for tax collection and enforcement of tax laws.
Owner's Equity
The residual interest in the assets of an entity after deducting liabilities; essentially the net worth belonging to the owners.
Liabilities
Financial obligations or debts owed by a business to others, which must be paid back in the future.
Assets
Economic resources owned by a business that are expected to provide future benefits or value.
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