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Was the judge correct in disallowing Jane's testimony regarding what Susie told her about the tire?
Liabilities
Liabilities represent obligations or debts that a company owes to external parties, which must be settled through the transfer of assets or services.
Assets
Economic resources owned by a business or individual, expected to bring future benefits.
Net Income
The total profit or loss of a business after all expenses, taxes, and costs have been subtracted from total revenue.
Net Loss
A situation where total expenses exceed total revenues, indicating a negative profit.
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