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18. If a not-for-profit clinic has $70,000 in assets and $40,000 in liabilities, what is their...

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Finance

18. If a not-for-profit clinic has $70,000 in assets and$40,000 in liabilities, what is their equity balance?

12. What are the differences between the incomestatement and balance sheet in regard to timing andorganization?

19. Should financial statement and operating indicatoranalyses be conducted only on historical data?

20. What is the difference between trend analysis andcomparative analysis?

13. What are the three major categories ofassets?



Answer & Explanation Solved by verified expert
3.8 Ratings (472 Votes)
18 Equity Assets Liabilities therefore equity of not for profit clinic will be 30000 70000 40000 12 Income Statement A income statement is a statement which shows the net profit or loss generated by an organization during a given period of time The income statement includes all the incomes and expenses Expenses are reduced from overall income to arrive at profits The income statement helps a investor in assessing the operating performance of an organization A income statement    See Answer
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18. If a not-for-profit clinic has $70,000 in assets and$40,000 in liabilities, what is their equity balance?12. What are the differences between the incomestatement and balance sheet in regard to timing andorganization?19. Should financial statement and operating indicatoranalyses be conducted only on historical data?20. What is the difference between trend analysis andcomparative analysis?13. What are the three major categories ofassets?

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