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However, you’ve already committed to purchasing a new piece of equipment in about seven months, and with a 3% drop in cash, your liquidity may drop below your comfort level. A circumstantial scenario would include situations that impact cash flow that are relatively out of your control. For example, a Read more…

The balance sheet is also referred to as the Statement of Financial Position. The expanded accounting equation goes hand in hand with the balance sheet; hence, it is why the fundamental accounting equation is also called the balance sheet equation. Any changes to the expanded accounting equation will result in Read more…