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An instructor teaches a group of nursing students about sterile technique in long-term care facilities. A student demonstrates understanding by saying:
Assets
Economic resources owned or controlled by a business, expected to provide future benefits.
Total Assets
The sum of all assets owned by a business, including both current and non-current assets.
New Building
This term refers to the accounting classification of a recently constructed building as a fixed asset, which will be subject to depreciation over its useful life.
Cash
A form of currency that can be used to exchange goods, services, or to settle debts.
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