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I agree with doing business without debt. I am not in debt right now.
The Balance Sheet usually looks something like this:
Assets - Liabilities = Owner's Equity
Different business companies (or your personal finances) can be compared based on who has more Owner's Equity. Businesses can also compete based on: who is more liquid (more cash), who has better assets (house, car, supplies, inventory, etc.) and who has better human resources (employees, customers, clients, friends, etc.) Good luck.
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