Claims of creditors and owners on the assets of a business are called liabilities.
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Q19: The economic resources owned by a business
Q20: Assets are resources owned by a business
Q21: The balance sheet reports assets and claims
Q22: The management discussion and analysis (MD&A) section
Q25: One way of stating the accounting equation
Q26: The heading for the income statement might
Q29: All publicly traded U.S.companies must provide their
Q32: Cash is another term for stockholders' equity.
Q34: The accounting equation can be expressed as
Q37: The basic accounting equation states that Assets
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