Question: In your own words, discuss the difference between assets and liabilities on a fitness center's balance sheet. What is the importance of a balance sheet?

In your own words, discuss the difference between assets and liabilities on a fitness center's balance sheet. What is the importance of a balance sheet? Discuss revenue sources for a fitness center or health club that you are familiar with. Industry-wide, on average, what percentage of total income comes from membership dues?

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