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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Q 1. Which of the following are known as current assets? 2. The difference between total assets of a firm and its total liabilities is called 3. The difference between current assets of a firm and its current liabilities is called 4. Earnings before interest and taxes are calculated as 5.Assume the following data: Total current assets = $852; Total current liabilities = $406; Long-term debt = $442. Calculate net working capital.

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1. cash, marketable securities, receivables, and inventories. 2. net worth 3. net working capital 4. total revenues – costs – depreciation 5. $446