When You Declare a Constant, You Must Assign It an Initial

question 41

True/False

When you declare a constant, you must assign it an initial value.

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Definitions:

Statement of Financial Position

A financial statement detailing an organization's assets, liabilities, and equity at a specific point in time; another term for a balance sheet.

Net Assets

The difference between a company's total assets and its total liabilities, indicating the equity value in the company.

Contributed Services

Services provided by volunteers or donated resources that are typically not paid for but are recorded in the financial statements if they create or enhance a nonfinancial asset or require specialized skills.