Question: (9 marks) 5 What are the differences between assets, liabilities and equity? 6 Why is it important to distinguish between non-current assets and current assets?

(9 marks) 5 What are the differences between assets, liabilities and equity? 6 Why is it important to distinguish between non-current assets and current assets? 7 Explain three uses of balance sheets. (6 marks) (9 marks)

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