4.5 (a). on a balance sheet, what is the difference between long

4.5  (a). on a balance sheet, what is the difference between long term investments, property and equipment?


(b). what is the difference between gross fixed assets and net fixed assets.

(c). how does depreciation expense on the income statement relate to the accumulated depreciation on the balance sheet?


3.4  explain the difference between cash and accrual accounting. Be sure to include a discussion of the revenue recognition and matching principle.

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