hanh.dao.sapp
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hanh.dao.sapp
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mid term

Question 1 of 2

1

Which of the following is the normal way to present the accounting equation?

Select one of the following:

  • Liabilities = Assets – Owners’ equity

  • Assets – Liabilities = Owners’ equity

  • Assets = Liabilities + Owners’ equity

  • Assets – Liabilities – Owners’ equity = 0

Explanation

Question 2 of 2

1

2. A business has $250,000 total liabilities. At start-up, the owners invested $500,000 in the business. Unfortunately, the business has suffered a cumulative loss of $200,000 up to the present time. What is the amount of its total assets at the present time?

Select one of the following:

  • 500

  • 600

  • 550

  • 650

Explanation

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