Correct Answer: Opening Balance Equity
Explanation:
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When you have a fair, and you are selling items there to customers that you don't want to enter on your customer list, as you may not see them again, you can enter them under miscellaneous customer account.
The correct accounting equation is assets = liabilities + Owners Equity
The shortcut to open Chart of Accounts is:
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A QuickBooks company file can be used by multiple users at the same time.