Capital is
A) an owner's permanent investment in the business.
B) equal to liabilities minus owner's equity.
C) equal to assets minus owner's equity.
D) equal to liabilities plus drawings.
Correct Answer:
Verified
Q80: Generally accepted accounting principles are
A) income tax
Q81: When an owner withdraws cash or other
Q82: Liabilities
A) are future economic benefits.
B) are existing
Q83: A basic assumption of accounting that requires
Q84: Sam Ryo is the proprietor (owner) of
Q86: Sources of increases to owner's equity are
A)
Q87: The common characteristic possessed by all assets
Q88: A basic assumption of accounting assumes that
Q89: Revenues would not result from
A) sale of
Q90: The basic accounting equation may be expressed
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