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Liabilities vs. Assets

jcain6@optonline.net (John G. Cain)
(maybe, heard it)

Years ago, when I was in 6th grade, we were studying financials (as much as a 6th grader can). The teacher asked the class, "What is the difference between liabilities and assets?"

A voice from the back of the room replied, "If you have too many liabilities, your assets in jail!"


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