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Does Capital equals assets plus liabilities is this true or false?
This would be False:The GAAP account equation is Assets = Liabilities + Owners Equity (which includes capital)Therefore the correct equation would be:Assets - Liabilities = Owners Equity (minus not plus)There is no accounting equation that allows to adding assets and liabilities.
Is this true or false purchasing supplies on account increase liabilities and decrease equity?
True. When supplies are purchased on account, it increases liabilities because the business now owes money to the supplier. At the same time, this transaction does not immediately affect equity; instead, it reflects an increase in assets (supplies) and an increase in liabilities, which can indirectly affect equity over time as expenses are recognized.
True or false the debit ratio measures how quickly a company pays off the long term liabilities it has incurred?
False. The debit ratio, more commonly referred to as the debt ratio, measures the proportion of a company's total liabilities to its total assets, indicating the level of financial leverage and risk. It does not specifically assess how quickly a company pays off its long-term liabilities. Instead, metrics like the debt-to-equity ratio or the interest coverage ratio would provide insights into a company's ability to manage and repay its debts.
When a business incorporates it receives articles of incorporation from the Internal Revenue Service. is this true or false?
False
Do chart of accounts have to be the same for each business?
false
A balance sheet is a list of the assets liabilities and owners equity of a business for a period of time True or False?
false, it is a summary of the three things
is it true or false if the liabilities owed by a business total $300,000 and stockholders equity is equal to $300,000, then the assets also total $300,000?
False
Does Capital equals assets plus liabilities is this true or false?
This would be False:The GAAP account equation is Assets = Liabilities + Owners Equity (which includes capital)Therefore the correct equation would be:Assets - Liabilities = Owners Equity (minus not plus)There is no accounting equation that allows to adding assets and liabilities.
The fundamental accounting equation is expressed as Assets Owner s Equity plus Liabilities True False?
True
Is this true or false purchasing supplies on account increase liabilities and decrease equity?
True. When supplies are purchased on account, it increases liabilities because the business now owes money to the supplier. At the same time, this transaction does not immediately affect equity; instead, it reflects an increase in assets (supplies) and an increase in liabilities, which can indirectly affect equity over time as expenses are recognized.
True or false the debit ratio measures how quickly a company pays off the long term liabilities it has incurred?
False. The debit ratio, more commonly referred to as the debt ratio, measures the proportion of a company's total liabilities to its total assets, indicating the level of financial leverage and risk. It does not specifically assess how quickly a company pays off its long-term liabilities. Instead, metrics like the debt-to-equity ratio or the interest coverage ratio would provide insights into a company's ability to manage and repay its debts.
True or false Any property such as land or stock that may cover a person's liabilities is called his income?
false
Liquidity true or false -all assets are liquid at some price explain?
false
What is the purpose of Sarbanes-Oxley Act of 2002?
To protect investors from fraud and false financial reporting.
True or false-portfolio disequilibrium is a situation exists when wealth holders have the desired productions of assets in their current portfolios economics?
False. It is a sutuation where wealth holders have too much of their assets and too few of others False. It is a sutuation where wealth holders have too much of their assets and too few of others
Accrued revenues are ordinarily listed on the balance sheet as current liabilities True or False?
true
Wilson did not oppose monopoly business True or False?
False.
