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Rather Than Looking Only at the Balances Reported on the Financial

question 15

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Rather than looking only at the balances reported on the financial statements,it is helpful to look at the changes in the account balances over time.This is called


Definitions:

Note Payable

A written promise to pay a specific sum of money on a certain date, or on demand, to the holder of the note, which can be short-term or long-term.

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