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Using your textbook, the library, the Internet, or any other available materials, explain the different types of users of financial statements. The following questions must be answered in the report to receive full credit:

Define the accounting equation.
Define, explain, and give 1 example of each of these account types:
- Assets
- Liabilities
- Owners' equity
- Revenue
- Expenses
Discuss how much time you think you will need to spend each week for this accounting class. Do you have any concerns in completing the homework?

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