Multiple Choice
Respectively, ___ are resources that an organization owns; ___ is/are debts that an organization owes; and ___ is/are amounts that owners have contributed and what the entity has earned for them.
A) assets; liabilities; revenues
B) assets; liabilities; stockholders' equity
C) assets; stockholders' equity; liabilities
D) revenues; liabilities; expenses
E) revenues; liabilities; stockholders' equity
Correct Answer:

Verified
Correct Answer:
Verified
Q13: For a profitable corporation, stockholders' equity is
Q14: Which of the following statements about accounting
Q15: The accounting information used by internal decision
Q16: The statement that reconciles the dollar amounts
Q17: The ending cash balance per the statement
Q19: A net loss decreases a corporation's assets
Q20: Sole proprietorship and partnership organizations do not
Q21: The Public Company Accounting Oversight Board is
Q22: Successful companies should generally produce the majority
Q23: Owners of each type of the following