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Based on the activity series,which one of the reactions below will occur?
Assets
Economic resources owned by a business that are expected to benefit future operations.
Owner's Equity
The residual interest in the assets of a business after deducting liabilities; represents the owner's claim on the business assets.
Liabilities
Financial obligations a company owes to outside parties.
Assets
Resources owned or controlled by a business, which are expected to produce future economic benefits.
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