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Unformatted text preview: its owners. (Points: 1) Unlimited liability Continuity of existence Easy transfer of ownership Taxability as a separate entity 5. Which one of the following items found on a balance sheet is not a claim against an entity's resources? Hint: Remember what general classes of items constitute claims against resources. Also, consider what the term "resources" means. (Points: 1) Merchandise Inventory Notes Payable Accounts Payable Capital...
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- Spring '10