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Suppose that in 2020 the average citizen's federal tax bill is $11,987,and total federal spending is $12,294 per person.In 2020,the federal government will have
Current Asset
An asset on the company's balance sheet that is expected to be converted into cash within one year.
Long-term Asset
An asset that is not expected to be converted to cash or used up within one year of the balance sheet date.
Equipment
Tools, machinery, or apparatus designed for a specific operation or purpose.
Intellectual Property
A category of property that includes intangible creations of the human intellect, such as inventions, literary and artistic works, designs, and symbols.
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