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29 January, 05:45

Betech Inc. has $50,000 in its bank account and $3,000 worth of goods in its warehouse. What is this amount ($53,000) known as in accounting terms?

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  1. 29 January, 06:50
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    The balance in the bank account and the worth of goods in the warehouse are included under assets so the total amount of 53,000 known as assets
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