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10 cards from this deck
A=OE+LA = OE + LA=OE+L
Resources owned by the business
What the business owes
Current: <12 months; Non-current: >12 months
Cost price - Accumulated depreciation
Sales - Cost of sales
Separates operating performance from financing activities
Assets taken by owner for personal use
Current asset (represents future benefit)
Current liability (obligation owed to customer)
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