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1. The Drawing Account is a temporary account. True/False 2. If the liabilities bu a business...

1. The Drawing Account is a temporary account.
True/False

2. If the liabilities bu a business total $300,000 and owner's equity is equal to $300,000, then assets also total $300,000.
True/False

3. Service companies are companies that primarily generate their revenue by making their product.
True/False

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