Multiple Choice
Which of the following statements is correct?
A) "Equity" is the original money invested in the business that belonged to the owners of the business.
B) "Equity" is money that the business has used to grow - for example the original investment from owners or money from the sale of shares, and any loans made to the business
C) "Equity" is the value of the business
D) "Equity" is made up of not only the original investment in the business, but also any profits that were retained over the years.
Correct Answer:

Verified
Correct Answer:
Verified
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Q6: An example of a current liability is:<br>A)
Q7: Which of the following statements is correct?<br>A)
Q8: What a company owns is known as
Q9: The accounting equation can be stated as:<br>A)
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Q12: Which of the following statements is correct?<br>A)
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Q15: The accounting equation can be stated as:<br>A)