What is equity?
AOwner’s claim on total liabilities
Bliability of a business
COwner’s claim on total assets
D
Study & Learn
Read every question, see the correct answer, and understand the explanation at your own pace. Study mode has no timer and no negative marking.
Correct answer
C. Owner’s claim on total assets
Explanation
Owner’s claim on total assets is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. financial assets
Explanation
What Is Capital? Capital is a term for financial assets, such as funds held in deposit accounts and/or funds obtained from special financing sources. Capital can also be associated with capital assets of a company that requires significant amounts of capital to finance or expand. Capital can be held through financial assets or raised from debt or equity financing. Businesses will typically focus on three types of business capital: working capital, equity capital, and debt capital. In general, business capital is a core part of running a business and financing capital intensive assets. Capital assets are assets of a business found on either the current or long-term portion of the balance sheet. Capital assets can include cash, cash equivalents, and marketable securities as well as manufacturing equipment, production facilities, and storage facilities.
Correct answer
A. Expenses are greater than Income
Explanation
Expenses are greater than Income is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
A. Capital
Explanation
Capital is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Amortization
Explanation
Amortization is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Entry for two aspects of the transaction
Explanation
Entry for two aspects of the transaction is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. Purchases
Explanation
Purchases is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. At the end of every accounting period
Explanation
At the end of every accounting period is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
C. 864
Explanation
864 is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.
Correct answer
B. Income Statement
Explanation
Income Statement is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.