[Answered] Equity on the balance sheet refers to what the owners receive after liabilities have been satisfied. ...

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ap345

Hero Member
Posts: 537

on: Jul 10, 2018

Equity on the balance sheet refers to what the owners receive after liabilities have been satisfied.

Indicate whether the statement is true or false.

Question 2

The basic accounting identity that assets equal liabilities plus owners' equity usually, but not always, holds.

Indicate whether the statement is true or false.

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amynguyen1221

Sr. Member
Posts: 355

Reply #1 on: Jul 10, 2018

Answer to Question 1

Answer: TRUE

Answer to Question 2

Answer: FALSE

ap345

Hero Member
Posts: 537

Reply #2 on: Jul 10, 2018

Thank you

amynguyen1221

Sr. Member
Posts: 355

Reply #3 on: Jul 10, 2018

Happy to help you

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