Question: please eleaborate with the simplest exampels. no cursive please 1. Describe the nature of the assets that compose the following sections of a balance sheet:

1. Describe the nature of the assets that compose the following sections of a balance sheet: (a) Current Assets and (b) Property, Plant, and Equipment. 2. What is the difference between a current liability and a long-term liability? 3. What types of accounts are referred to as temporary accounts
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