house that has a mortgage loan of $75,000 is said to have $125,000 ofequity in the house.
7. What is meant by reconciling an account?
Answer Reconciling an account is likely tomean proving or documenting that an account
balance is correct.
8. What is included in cash and cash equivalents?
Answer In accounting, a company'scash includes the following
currency and coins
checks received from customers but not yet deposited
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