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  3. what you own can be broken down into asset categories...

Question: what you own can be broken down into asset categories...

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What you own can be broken down into asset categories. In the following table, select a category for each item listed. Monetary Tangible Investment AssetS AssetS AssetS Individual Retirement Account (IRA) Your automobile Municipal bond Savings account Checking account Your house As you gather data regarding your assets, it is important to remember that regardless of category, you should record all assets on the balance sheet af purchase price lower of cost or market value fair market value

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