assets=liabilities+owner's equity (correct answer)
true, but on test it is false
Balanced must remain in balance
true
negative amount of net worth creator would approve
false
when two asset accounts are changed there must be an increase and decrease
true
Detailed info about changes in owners equity is needed by owners and managers to make sound business decisions
true
future date... on account or idems bought on account
true
A transaction for the sale of goods or services
false
keeping separate ... application
true
expense is decrease
true
business ethics are the use of ethics
true (false on test)
payments for equipment is a liability
false
withdrawals taken out of business for owner
true
withdrawal for personal use
true
the most common withdrawal is cash
true
withdrawal is an expense
false
total assets are the total amount owner has invested in the business
false