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Which statement regarding the fractional distillation of two substances is not correct?
Long-Term Asset
Assets owned by a company that are intended for use over a long duration, typically more than one year, such as real estate, machinery, and patents.
Statement of Cash Flows
A financial report that provides aggregate data regarding all cash inflows and outflows a company receives from its ongoing operations, investing, and financing activities.
Net Increase
The amount by which something grows or rises, subtracting decreases from increases over a period of time.
Financing Activities
Transactions and events that affect long-term liabilities and equity of an organization, such as issuing stock or obtaining a loan.
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