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💼 Assets vs. Liabilities 💼In accounting, assets are items of value owned by a business, while liabilities are obligations or debts that the business owes to others. The difference between total assets and total liabilities is known as equity.🔗 Visit https://www.profinancialfitness.com/#FinanceTips #Assets #Liabilities #BusinessFinance #Accounting #Equity #FinancialHealth #BalanceSheet #FinancialManagement #ProFinancialFitness