menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting
  4. Exam
    Exam 1: Accounting Concepts and Procedures: an Introduction
  5. Question
    The Accounting Equation States That Total Assets Must Always Equal
Solved

The Accounting Equation States That Total Assets Must Always Equal

Question 55

Question 55

True/False

The accounting equation states that total assets must always equal total liabilities plus owner's equity.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q50: A partnership is a business which is<br>A)

Q51: The ending capital figure on the statement

Q52: A sample of a liability account is<br>A)

Q53: An obligation that is payable to creditors

Q54: Sonya invested cash in her new business.

Q56: The basic accounting equation is: Assets =

Q57: Legal services were provided to a credit

Q58: Go Blue Retail Store collected $12,000 of

Q59: A Statement of owner's equity shows the

Q60: A legal firm would be considered a<br>A)

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines