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Question
Bernard has just learned that on the balance sheet, the assets must equal the ___________ plus the _______________.
a. money borrowed from others, money invested by the owners
b. accounts receivable, accounts payable
c. accumulated depreciation, asset value
d. net profit, retained earnings
Answer
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Related questions
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A market is best defined as a geographical area that is of commercial interest to the entrepreneur.
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a. True
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What are the qualifications of partners?
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Liability on the part of an owner that extends beyond the owners investment in the business
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b. accrued expenses.
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In order to derive a cash flow statement, the owner must add back the _____ to the income statement.
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a. 2 years
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Total assets less short-term debt equals ownership equity.
a. True
b. False
Indicate the answer choice that best completes the statement or answers the question.